Metals & Macro Liquidity

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According to Jin10, China's central bank gold reserves reached 76.73 million ounces (approximately 2,386.57 tonnes) at the end of August, with a month-on-month increase of 6.5 million ounces (approximately 20.22 tonnes). This marks the 22nd consecutive month of gold purchases by the Chinese central

According to the Shanghai Gold Exchange, gold T+D closed down 1.88% at 948.5 yuan per gram on Monday, September 7. Silver T+D declined 1.7% to 15,970 yuan per kilogram on the same day.

Spot gold declined 1% intraday to $4,386.25 per ounce, while spot silver fell 1% to $65.48 per ounce. Both precious metals posted equal losses during today's trading session.

According to the World Gold Council and reported by 21Finance, China's gold jewelry consumption declined 30% year-over-year to 136 tons in the first half of 2026, while total consumption value rose 5% to 143.7 billion yuan. The World Gold Council released the "2026 China Gold Jewelry Retail Trends

The Federal Reserve published a report on September 7th arguing that US Treasuries remain more important than gold as a reserve asset for major central banks, despite global gold holdings surpassing foreign government holdings of US Treasuries at the end of 2024. The Fed's report, titled 'Why Gold

According to a Federal Reserve report released on September 7, the central bank disputed claims that global gold reserves have surpassed U.S. Treasury holdings among foreign governments. The Fed pointed to year-end data showing global gold reserves at $5.1 trillion versus foreign government U.S. Tre

According to Jin10, gold jewelry prices in China today showed widespread modest declines. Major brands including Chow Tai Fook, Chow Sang Sang, Chow Hong Group, and Tse Sui Luen reported prices of 1,329 yuan per gram, down 9 yuan per gram from the previous trading day. Water Bead gold jewelry

Spot gold prices fell 2.4% to $4,400 per ounce on Thursday after the Bureau of Labor Statistics reported stronger-than-expected August employment data. US nonfarm payrolls surged by 162,000, nearly tripling the consensus forecast of 53,000 to 65,000, while the unemployment rate held steady at 4.1%.

According to Jin10, on Monday Sept 7, Shanghai gold traded at 951.33 yuan per gram in morning trading, representing a 0.1 yuan premium to the international spot price of 951.23 yuan per gram.

According to PANews, on September 7, U.S. and Canadian stock markets closed for the Labor Day holiday. CME equity index futures contracts ended trading at 01:00 Beijing time on September 8, while precious metals and crude oil futures contracts ended at 02:30 Beijing time on the same day. ICE

Bitcoin’s purchasing power relative to gold climbed to 18.17 on Sept. 6, its highest level since January 2026, meaning one bitcoin can now be exchanged for more than 18 ounces of gold. CoinDesk said the driving force was investors’ concerns about the sustainability of global government debt. U.S. Treasury Secretary Scott Bessent said bluntly at the G20 finance ministers’ meeting: “The world is awash in debt, and our only way out is to grow our way out of it.” Bitcoin-to-Gold Ratio at 18.17, Sett

Spot gold touched $4,400 per ounce today (September 7), declining 0.70% during intraday trading.

Sept. 7, Bitcoin recovered to above $80,000, still about 37% below this year's all-time high. Meanwhile, US federal debt has exceeded $40 trillion, the fiscal deficit remains at about 6% of GDP, and long-term borrowing costs remain high. BloFin analysts said in a report that the “currency debasement trade” has not failed but has entered its second phase: the drivers have shifted from simple debt expansion to market assessments of whether the government will take action to lower borrowing costs.

Shanghai silver futures main contract fell over 2% during intraday trading today, closing at 15,982 yuan per kilogram.

On Monday morning (Sept 7), Shanghai Gold Exchange Gold T+D dropped 1.61% to 951.16 yuan per gram at market opening, while Silver T+D fell 1.46% to 16,010 yuan per kilogram.

Spot platinum declined 0.08% while spot palladium gained 0.10% as of 8:30 AM Beijing time on September 7.

According to Korean Economy TV, stronger-than-expected U.S. employment data over the weekend lifted market expectations for a Fed rate hike in September to 60% from 49%, pressuring risk assets. Bitcoin tumbled to $79,000 before recovering to test $80,000, while gold dropped below $4,500 per troy

Gold prices fell over 2% intraday today following renewed expectations that the Federal Reserve will raise interest rates in September. The retreat came as fresh non-farm employment data bolstered rate hike