The World Gold Council has published the "Monthly Market Commentary on Gold in China." The report indicates that in January, the demand for physical gold upstream in China was robust: the volume of gold shipped by the Shanghai Gold Exchange (SGE) amounted to 126 tons, a slight increase of 1 ton compared to the previous year and an increase of 11 tons compared to the previous month; gold bar sales were strong, and before the Chinese New Year, gold jewelry traders intensified their supplies, thus supporting the demand for gold. In January, inflows into gold ETFs in China reached 44 billion yuan (approximately 6.2 billion dollars, 38 tons), setting a new record for the beginning of the year, with total assets under management (AUM) and total position breaking all historical records. The People's Bank of China continued to announce gold purchases in 2026, increasing its gold reserves by 1.2 tons to reach 2,308 tons, representing 9.6% of total foreign exchange reserves.

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