Gold price gap narrows as European prices fall more than in China

The gold price in Europe has experienced a sharper decline compared to China, leading to a narrowing price gap between the two markets. On the Shanghai Gold Exchange (SGE), the price discount for gold relative to the European spot market decreased to 22 US dollars per ounce, down from a 38-dollar discount the previous week.

As of Monday, gold was trading at approximately 4,294 US dollars per fine ounce on the SGE, while the European spot market price stood at 4,316 US dollars per ounce. While prices have fallen in both regions, the reduction in the West was more significant, resulting in a 16-dollar improvement in the China-to-Europe spread.