China Gold Premium — How Much Does the Shanghai Gold Exchange (SGE) Differ from World Gold Right Now?
China's capital account is closed, so only a few PBOC(People's Bank of China)-approved banks can import gold. So even when a gap appears with world gold, ordinary traders can't freely arbitrage it away, so the gap between the Shanghai Gold Exchange (SGE) price and world gold persists — the finance industry calls this the "Shanghai Gold Premium" and widely tracks it as a gauge of China's physical gold demand. This page compares SGE's Au99.99 (99.99% purity) contract close with world gold (converted to grams) in real time.
SGE vs World Gold — Detailed Comparison
| SGE Au99.99 Close99.99% purity, per gram | — |
| World Gold (Converted)XAU/USD converted to CNY/gram | — |
| Premium(SGE close − World converted) ÷ World converted | — |
| World Gold (Spot)XAU/USD | — |
| USD/CNY Rate | — |
SGE Close · World Gold · Premium Over Time
Left axis: Premium(%) · Right axis: SGE·World Gold(CNY/gram)
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 only government-approved 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.
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