ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Commodities

Beijing's money laundering crackdown dents China's gold premium

$18 bonus in Shanghai plunges to $33 discount over a week

Gold prices in China have recovered from the lows plumbed during the pandemic last year.   © Reuters

TOKYO -- China's bullish gold market has cooled this month after Beijing's proposal for stricter rules targeting money laundering touched off a sell-off.

Gold traded in Shanghai was routinely fetching a "Chinese premium" price of roughly $18 per troy ounce over the global benchmark. But that spread began crashing June 2, and the price now sits in discount territory.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more