Latest Quotes (May 11)

• London Spot Gold: $4650.09/oz, down 0.88%
• COMEX Gold Futures: $4680.7/oz, down 1.06%
• Shanghai Gold T+D: CNY 1019.52/g, down 1.62%
• Shanghai Gold Futures: CNY 1020.6/g, down 1.81%

Key News Highlights

1. International gold prices edged lower, swinging sharply amid Middle East geopolitical risks and US interest rate expectations.
2. China’s central bank has increased gold reserves for 18 consecutive months, pushing forward foreign reserve diversification.
3. China’s gold consumption shows clear divergence: weak jewelry demand while investment bars and coins remain highly popular.
4. Continuous capital inflows into gold ETFs; global safe-haven demand for gold stays strong.

Market Outlook

• Short term: Strong US dollar and higher-for-longer rate expectations cap gold upside, trading range-bound.
• Long term: Sustained central bank gold purchases, geopolitical tensions and de-dollarization trends will underpin gold prices.

Key Focus Points