China's Gold Market Outlook 2022

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World Gold Council
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Summary

  • Chinese gold demand will likely remain strong in 2022.
  • Despite the strong performance of H1 2021, China’s GDP growth slowed in the second half.
  • Gold bar and coin demand might be higher in 2022 than its pre-pandemic level.

Gold bullion on pile golden coins a lot of

chonticha wat/iStock via Getty Images

A healthy outlook for China's gold market in 2022

In 2021, the 56% y-o-y rise in China's gold consumption marked a strong comeback from 2020.

And Chinese gold demand will likely remain strong in 2022. Our

Strong recovery in China

Metals Focus, Shanghai Gold Exchange, World Gold Council

Chinese gold ETF investors seem to have become more tactical in 2021

ETF providers, Shanghai Gold Exchange, World Gold Council

2021 profit growth in different sectors

National Bureau of Statistics, World Gold Council

USD/CNY and the China-US real 10-year government bond yield spread

Bloomberg, National Bureau of Statistics, World Gold Council

China

Metals Focus, National Bureau of Statistics, World Gold Council

Actual gold jewellery demand changes and modelled changes

Metals Focus, National Bureau of Statistics, Oxford Economics, Shanghai Gold Exchange, World Gold Council

Various scenarios of Chinese gold jewellery quarterly tonnage demand forecasts

Metals Focus, Oxford Economics, World Gold Council

Actual bar and coin demand changes (gold) vs modelled changes*

Metals Focus, National Bureau of Statistics, Oxford Economics, World Gold Council

Various scenarios of Chinese gold bar and coin quarterly tonnage demand forecasts

Bloomberg, Metals Focus, Oxford Economics, World Gold Council

This article was written by

World Gold Council profile picture
291 Followers
The World Gold Council is the market development organization for the gold industry. Our purpose is to stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market. We are a unique organization that delivers tangible benefits to the gold industry. We are an active force within the market, working with a large and diverse set of partners to create access, drive innovation and stimulate demand, while providing a collective voice for our members. We provide insights into the international gold markets, helping people to understand the investment qualities of gold and its role in meeting the social and environmental needs of society. For more information visit www.gold.org.

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