China's gold price has hit the largest decline in three years, curbing a huge gap between the weeks and the international gold price.
According to Bloomberg, the gold price of Shanghai Gold Exchange fell 3.8%on Thursday (September 28), and the end of the end fell accelerated.Earlier, China's gold prices rose for a long time, and the premium of international gold prices was a record level.
According to Bloomberg, the Shanghai gold is 9 dollars per ounce higher than the international gold price at the time of close.The premium level of this month once rose more than $ 120 per ounce (about S $ 164), indicating that China's demand for gold exceeds limited supply.
The Bank of China has implemented gold import restrictions this summer, and may have been trying to support the RMB by reducing the needs of buying gold in the US dollar.China has ushered in a one -week National Day holiday, and the holidays are usually related to giving away gold gifts.
