Gold Premiums Tracker
Track gold premiums and discounts in China (Shanghai) and India (MCX) — the world's two largest gold markets. 22+ years of daily data with z-score analysis.
Premium/Discount Over Time
China Market - Last 1 YearKey Insights
Recent Data
| Date | Premium | Z-Score | Percentile | Flag |
|---|
Methodology & Sources
Data Sources
Shanghai Gold Exchange (SGE) for China, Multi Commodity Exchange (MCX) for India. LBMA Gold Price AM/PM fix as international benchmark.
Calculation
Premium = Local Price (USD/oz) - LBMA Spot Price. Currency conversion uses same-day WM/Reuters rates.
Anomaly Detection
Extreme premium: top 5% of historical values. Extreme discount: bottom 5%. Anomaly: |z-score| > 2 standard deviations.
Coverage & Updates
China: April 2003 - Present (~5,900 records). India: January 2012 - Present (~3,600 records). Dataset updated periodically.
❓ Frequently Asked Questions
What is a gold premium or discount?
A gold premium occurs when the local gold price is higher than the international spot price (LBMA), indicating strong local demand. A discount means local prices are below international prices, often due to weak demand or import restrictions.
Why does China have gold premiums?
China is the world's largest gold consumer but restricts gold imports through quotas. When demand exceeds supply, premiums emerge. The Shanghai Gold Exchange premium typically ranges from $0-30/oz but can spike to $50+ during high demand periods.
How are gold premiums calculated?
Premiums are calculated as: Local Gold Price - LBMA Spot Price (both in USD/oz). We use daily closing prices from the Shanghai Gold Exchange (China) and MCX (India), converted to USD using same-day exchange rates.
What is a z-score in premium analysis?
Z-score measures how many standard deviations a premium is from its historical average. Z-score > 2 indicates an unusually high premium (strong demand signal), while z-score < -2 indicates extreme discount (weak demand).
How can traders use premium data?
Traders use premiums to: 1) Gauge physical demand strength, 2) Identify arbitrage opportunities, 3) Time entries in gold-related assets, 4) Understand regional demand dynamics affecting global prices.
⚠️ Disclaimer: This tool provides historical data for informational purposes only. It does not constitute investment advice. Gold prices and premiums can be volatile. Past performance does not guarantee future results. Always consult a qualified financial advisor before making investment decisions.
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