Core Insights - The World Gold Council released the "China Gold Market Monthly Review," indicating robust upstream physical gold demand in January [1] Group 1: Physical Gold Demand - The total gold withdrawal from the Shanghai Gold Exchange (SGE) reached 126 tons in January, showing a slight year-on-year increase of 1 ton and a month-on-month increase of 11 tons [1] - Strong sales momentum for gold bars was noted, with jewelry retailers increasing inventory ahead of the Spring Festival, supporting black market demand for gold [1] Group 2: Gold ETF Inflows - In January, China saw gold ETF inflows of 440 billion RMB (approximately 62 million USD, 38 tons), marking the highest opening month on record [1] - Both the total assets under management (AUM) and total holdings of gold ETFs reached historical highs [1] Group 3: Central Bank Activity - The People's Bank of China continued to release gold purchase announcements, increasing its gold reserves by 1.2 tons to 2,308 tons, which now constitutes 9.6% of its total foreign exchange reserves [1]
世界黄金协会： 1月中国市场黄金ETF流入440亿元人民币 创历年开局新高
Sou Hu Cai Jing·2026-02-12 12:17