China Gold Premium — How Much Does the Shanghai Gold Exchange (SGE) Differ from World Gold Right Now?
China's premium persists because a closed capital account blocks arbitrage, while the Vietnam Gold Premium reflects SJC-centered supply and gold import controls and the Thailand Gold Premium stays small because the Gold Traders Association manages prices.
SGE vs World Gold — Detailed Comparison
| SGE Au99.99 Close99.99% purity, per gram | ¥962 |
| World Gold (Converted)XAU/USD converted to CNY/gram | ¥967.87 |
| Premium(SGE close − World converted) ÷ World converted | -0.61% |
| World Gold (Spot)XAU/USD | $4,478.1/oz |
| USD/CNY Rate | 6.722 CNY/USD |
SGE Close · World Gold · Premium Over Time
Last 7 Days
| Date | SGE Close | World Price (Converted) | Premium |
|---|---|---|---|
| 2026-08-31 | ¥962 | ¥967.87 | -0.61% |
| 2026-08-28 | ¥995.05 | ¥967.87 | +2.81% |
| 2026-08-27 | ¥992.29 | ¥996.31 | -0.40% |
| 2026-08-26 | ¥1,000.68 | ¥993.5 | +0.72% |
| 2026-08-25 | ¥1,000 | ¥1,002.36 | -0.24% |
| 2026-08-24 | ¥1,004.21 | ¥1,002.81 | +0.14% |
| 2026-08-21 | ¥983.56 | ¥999.42 | -1.59% |
Based on the latest 30 daily readings, the premium averaged -0.12%, with a high of +2.81% and a low of -2.88%.
How to Read the Premium
The premium shows, in %, how much higher the local gold price is than the international gold price (XAU/USD converted into the local currency and unit). It is calculated as (local price − international converted price) ÷ international converted price. Positive means local gold is more expensive; negative means cheaper.
This page labels the premium as negative below 0%, similar from 0% to 2%, moderate from 2% to 5%, and high at 5% or more. China's closed capital account blocks arbitrage, which is why a premium persists.
Figures in the table are daily reference values and can differ from intraday prices. For information only, not investment advice.
Frequently Asked Questions
Why does China gold (SGE) differ from world gold?
China's capital account is closed, so only a few PBOC-approved banks can import gold. So even when a gap with the world price appears, ordinary traders can't freely arbitrage it away, keeping the gap persistent.
What are SGE and Au99.99?
SGE (Shanghai Gold Exchange) is China's leading government-approved spot gold exchange. Au99.99 is a 99.99%-purity gold bullion spot contract, the flagship contract most precisely comparable to world gold prices.
Why does the Shanghai gold premium matter?
China is the world's largest gold consumer, so when this premium widens, it's read as a signal of strong physical gold demand within China. It's widely tracked in the finance industry as a gauge of China's physical gold demand.
