World Gold Council: The Chinese gold market has had a good start, with domestic and foreign gold prices averaging a premium of $6 per ounce in January
Recently, the World Gold Council commented that China welcomes the Year of the Snake with a good start for gold. The Chinese gold market has shown significant seasonal strength at the beginning of the Year of the Snake, with the average premium of domestic and international gold prices rising to USD 6 per ounce in January. Historical data indicates that gold's performance in February is usually positively correlated with January, suggesting a promising market outlook. In January, the gold price closed at USD 2,812 per ounce at the end of the month, an increase of 8% compared to the previous month. Gold has continued its strong seasonal performance, providing a good start for this year. According to the Short-term Gold Price Attribution Model (GRAM), factors such as tariff concerns, a weakening dollar, and declining bond yields have supported gold prices. In January, global gold ETF inflows totaled approximately USD 2.6 billion, primarily driven by strong inflows from European funds, possibly due to the European Central Bank's interest rate cuts lowering bond yields in multiple countries. Regarding the dollar's trend, the team believes that the dollar exchange rate may decline moderately rather than remain strong. Historically, gold has shown a negative correlation with the dollar. Although the main factors driving gold prices are not currently the dollar, the long-term trend of a weakening dollar is expected to moderately benefit gold
According to the Zhitong Finance APP, recently, the World Gold Council commented that China welcomes the Year of the Snake, and gold has had a good start. The Chinese gold market has shown significant seasonal strength at the beginning of the Year of the Snake, with the average premium of domestic and international gold prices rising to USD 6 per ounce in January. Historical data indicates that the performance of gold in February is usually positively correlated with January, suggesting a promising market outlook.
In January, the gold price closed at USD 2,812 per ounce at the end of the month, an increase of 8% compared to the previous month. Gold has continued its strong seasonal performance, providing a good start for this year. According to the short-term gold price attribution model (GRAM), factors such as tariff concerns, a weakening dollar, and declining bond yields have supported gold prices.
In January, global gold ETFs saw an overall inflow of approximately USD 2.6 billion, primarily driven by strong inflows from European funds, possibly due to the European Central Bank's interest rate cuts, which lowered bond yields in multiple countries.
Regarding the dollar's trend, the team believes that the dollar exchange rate may decline moderately rather than remain strong. Historically, gold and the dollar have shown a negative correlation. Although the main factors currently dominating gold prices are not the dollar, the long-term trend of a weakening dollar is expected to moderately benefit gold