China’s Gold Prices Rise Higher Than Rest of World Due to Import Curbs

(Bloomberg) — China’s gold price is rising against levels in London, a trend that local traders say is due to government curbs on imports of the precious metal.

The Shanghai spot price was more than $40 an ounce higher Aug. 14 than in London, according to Bloomberg calculations based on exchange data. That’s the biggest premium in more than five months, with the gap steadily widening since late June even as consumer demand in China remained sluggish.