China Gold Price Today - Shanghai Gold Premium (XAU)
Track the live China gold price from the Shanghai Gold Exchange (SGE) in real-time. Compare the Shanghai gold spot price (AU9999) with Western markets (COMEX, LBMA) and monitor the Shanghai Gold Premium - the key indicator of Chinese physical gold demand. Our live charts are updated every minute with data from China's largest precious metals exchange.
The Shanghai Gold Premium measures the price difference between gold in China and international markets. A positive premium indicates strong Chinese demand, while a negative premium (discount) suggests weaker demand. This metric is closely watched by global investors as China is the world's largest gold consumer and importer.
China Gold Price Today | Shanghai Premium
Track China gold prices from Shanghai Gold Exchange vs US spot prices
Prices for informational purposes only. Not financial advice. The site is still in beta and there may be inaccuracies.
Price Comparison
Shanghai vs Western gold spot prices ($/oz)
What is the Shanghai Gold Price?
The Shanghai gold price refers to gold traded on the Shanghai Gold Exchange (SGE), established in 2002 as China's official marketplace for physical gold trading. The SGE operates under People's Bank of China (PBOC) supervision and is the world's largest physical gold exchange. The benchmark Au99.99 contract represents 99.99% pure gold and serves as China's official gold price reference. Unlike Western markets, SGE contracts require physical delivery, making prices a direct reflection of real supply and demand for physical gold in Asia.
Why Shanghai Gold Trades at a Premium
China is the world's largest gold consumer, importing over 1,000 tonnes annually. The Shanghai premium emerges from restricted gold imports (quotas controlled by PBOC), strong domestic jewelry demand (especially during wedding seasons and Lunar New Year), investment buying from Chinese households, and currency factors affecting the Yuan. When Chinese buyers pay $20-50+ per ounce above US spot prices, it signals intense physical demand that often precedes global price rallies. The premium can also spike when the PBOC restricts import licenses or during periods of Yuan weakness.
Shanghai Gold vs COMEX Gold
The fundamental difference between SGE and COMEX is physical vs. paper gold. COMEX (New York) trades futures contracts where less than 1% result in physical delivery— it's primarily a financial market for hedging and speculation. The SGE requires actual gold bar delivery, making it a true physical market. This means SGE prices reflect genuine supply/demand for real metal, while COMEX is influenced by speculative positioning, algorithmic trading, and paper leverage. When SGE premiums surge while COMEX prices stagnate, it often indicates strong physical demand being temporarily suppressed by paper market activity.
How Shanghai Gold Prices Are Updated
Our Shanghai gold data updates hourly during SGE trading hours (Beijing time: 9:00-11:30 AM, 1:30-3:30 PM, and 8:00-2:00 AM for night session, Monday-Friday). We source the official SGE Au99.99 benchmark price and convert from Chinese Yuan (CNY) per gram to USD per troy ounce for comparison with US spot prices. Premium calculations use real-time USD/CNY exchange rates. Historical premium data helps identify seasonal patterns and long-term demand trends in the Chinese market.
Frequently Asked Questions
- Can I trade on the Shanghai Gold Exchange from outside China?
- Direct SGE access is restricted to approved Chinese institutions. International investors can access Chinese gold through SGE International (launched 2014), Hong Kong-Shanghai Gold Connect, or SGE-linked ETFs traded on international exchanges.
- What does a negative Shanghai gold premium mean?
- A negative premium (discount) means Shanghai gold is trading below US spot prices. This is rare but can occur during weak Chinese demand periods or when the Yuan strengthens significantly against the dollar.
- What is the Au99.99 contract?
- Au99.99 is the SGE's benchmark gold contract representing 99.99% pure gold (24 karat). It's the primary reference price for gold in China, used by jewelers, banks, and investors. Contract size is 1 kilogram.