Today in China, the gold market is experiencing strong momentum with prices reflecting both global and domestic influences as of late October 2025. 

Today in China, the gold market is experiencing strong momentum with prices reflecting both global and domestic influences as of late October 2025. The Shanghai Benchmark Gold Price (SHAUPM) and LBMA Gold Price in USD have surged by about 12% in the last month, marking outstanding yearly gains unmatched in decades. Chinese gold demand remains robust with increased withdrawals from the Shanghai Gold Exchange, alongside continuous bullion buying by the People’s Bank of China as part of its strategic reserve accumulation. Despite seasonal adjustments in gold jewellery restocking and cautious retail outlook, investment demand is buoyed by attractive prices and uncertainties affecting traditional assets. Market dynamics are further influenced by geopolitical tensions, currency fluctuations, and shifts in equity markets, making gold a favored safe-haven asset among Chinese investors. However, recent data also show a moderation in net gold imports via Hong Kong, reflecting price sensitivity and strategic timing considerations. Overall, China’s gold market is marked by sophisticated purchasing strategies and strong central bank support, setting the stage for continued importance in the global precious metals landscape.