Page 45 - Bullion World Issue 3 July 2021

Bullion World | Issue 03 | July 2021

Beijing’s money laundering

crackdown weakens China’s
gold premium

China’s bullish gold market has 2, and the price is now in the
cooled this month after stricter discount range.
money laundering regulations
proposed by Beijing triggered “It is generally believed that the
a sell-off. strengthening of the Chinese
authorities’ monitoring of
Gold traded in Shanghai money laundering will affect
is usually obtained at a precious metal transactions,
“China premium” price of which has triggered a sell-
approximately US$18 per off,” said Yuichi Ikemizu, chief
gram higher than the global director of the Japan Bullion
benchmark. But the spread Market Association
began to plummet on June
Source: https://injuredly.com/

Platinum jewellery sales China's gold reserves
continue to record strong stand at 62.64 million

rebound ounces at the end of
May
Despite ongoing challenges escalated by the Covid-19
pandemic, platinum jewellery retailers and manufacturers
report a sustained recovery across three of four key China's gold reserves totaled 62.64 million ounces
markets in the latest ‘Platinum Jewellery Business Review' at the end of May, unchanged from end-April, data
(PJBR) report for the first quarter of this year. The strong from the popular bank showed.Reserves remained
momentum is also evidenced by a recent consumer survey at the level for 20 months.Official data also showed
which highlights continued positive consumer sentiment that China's foreign exchange reserves stood at
and strong appetite for precious jewellery that marks special $3.2218 trillion at the end of last month.
moments in difficult times, Platinum Guild International (PGI),
which publishes the report, states. Source: http://portuguese.xinhuanet.com

Source: https://www.miningweekly.com

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