Gold rate today in Shenzhen

What gold costs in Shenzhen today

Converted at today's rates, pure 24k gold costs about 869.09 CNY per gram in Shenzhen, and 22k about 796.70 CNY. Per 10 grams, a common size for small bars and rate boards, that is about 8,690.94 CNY for 24k. These are spot-based figures, before any tax, premium or making charge.

Shuibei, Shenzhen's gold jewellery quarter

The Shuibei area of Luohu District is the centre of China's gold jewellery trade. The Shenzhen government's own city guide says Shuibei supplies more than half of the country's gold jewellery items and mixes wholesale with retail.

Shanghai sets China's yuan gold benchmark on its exchange, but much of the jewellery made from that gold is designed, made and sold wholesale in Shuibei.

What moves the gold price in Shenzhen

The Chinese yuan gold price is simply the dollar price of gold multiplied by the exchange rate. Today that means about $4,042.7 per ounce times 6.6866 CNY per dollar. The yuan is managed by the People's Bank of China around a daily fixing, so it moves in a narrow band. Local prices can still drift from the converted international price because imports need approval, and the gap between Shanghai and London prices, the 'Shanghai premium', widens when Chinese demand is strong.

The dollar price itself responds to US interest-rate expectations, the strength of the dollar, inflation data, central-bank buying and geopolitical risk. Our guide to what moves gold prices covers each in turn.

Premiums, making charges and tax in Shenzhen

The shelf price in Shenzhen is higher than the converted figure above. A shop adds 13% VAT and 5% consumption tax on jewellery, a per-gram workmanship fee and the store's margin. On jewellery, making charges are quoted as a fee per gram (gongfei) or per piece on top of the day's gold price, so two pieces of the same weight and purity can carry very different prices. Mainland jewellery is sold by weight and purity, so check the fineness mark and the invoice before you pay.

Gold market hours in Shenzhen

The international gold market trades almost around the clock on weekdays. In Shenzhen the London–New York overlap, usually the busiest and most volatile part of the day, runs today from about 21:00–01:00 local time. The two LBMA Gold Price auctions in London, at 10:30 and 15:00 London time, fall at 18:30 and 23:00 in Shenzhen, and major US data released at 08:30 New York time, such as payrolls and inflation, lands at 21:30 local time. The week's trading closes at 06:00 on Saturday and reopens at 07:00 on Monday, Shenzhen time; over the weekend the price on this page is the last close. The Shanghai Gold Exchange sets the Shanghai Gold Benchmark Price in yuan twice a day, at 10:15 and 14:15 Beijing time, and gold futures trade on the Shanghai Futures Exchange. Our gold market hours tool shows the sessions in any time zone.

Shenzhen compared with Shanghai

Shenzhen and Shanghai both price gold in CNY off the same international price and the same exchange rate, so the converted figure is identical: about 869.09 CNY per gram of 24k in both. Any difference at the counter comes from making charges, dealer premiums and how hard the shops compete.

How this CNY gold price is calculated

Three numbers decide everything on this page. First, the international gold price in US dollars per troy ounce: $4,042.7 at the last update. Second, the exchange rate: 1 USD = 6.6866 CNY. Third, the weight: one troy ounce is 31.1035 grams, and one tola is 11.6638 grams.

1. Price per gram in USD = $4,042.7 ÷ 31.1035 = $129.98.
2. Price per gram in CNY = $129.98 × 6.6866 = 869.09 CNY (24k, pure gold).
3. Price per 10 grams = 869.09 × 10 = 8,690.94 CNY.
4. For a lower purity, multiply by the fineness: 22k = 0.9167, 21k = 0.875, 18k = 0.75.

The gold price is the spot price of gold (XAUUSD) from a public real-time feed, refreshed every few seconds while the page is open; the 7-day table and the 30-session chart use COMEX gold futures closes, which usually sit a few dollars above spot. The exchange rate is a mid-market rate; the rate your bank or money changer gives you will be slightly different. If you want to do the maths yourself, our guide to converting the gold price per gram, tola and kilo walks through every step with worked examples.

What this price does not include

The figures above are the international spot price converted into local currency. They are the starting point for every retail price in Shenzhen, but they are not the price you will pay or receive at a shop. The shop price adds some or all of these on top:

• Import duty or customs charges, where gold or jewellery is imported.
• Sales tax or VAT, where the country charges one. Many countries tax jewellery but not investment bars; the sections above say what applies here.
• Dealer premium: the margin a bullion dealer or bank adds to the spot price for bars and coins, usually larger on small pieces.
• Making charges (labour) on jewellery, often a percentage of the gold value or a fixed amount per gram.
• Local supply and demand, which can push the physical price to a premium or a discount against the international price for weeks at a time.

When you sell, the buyer usually quotes below the spot-based number and deducts for purity testing, wear and sometimes stones. The gap between the buying and the selling price is the real cost of owning physical gold, and it varies a lot between shops, so it is worth asking several.

Frequently asked questions