Unearthed: The New Shape of Gold Demand in China ft. Roland Wang, CEO of World Gold Council China

In this episode of Unearthed, hosts Joe Cavatoni and John Reade examine the shifting dynamics in China - the world’s most important gold market for more than a decade.

They are joined by Roland Wang, Regional CEO for China at the World Gold Council, to explore how gold demand is evolving amid economic headwinds, changing consumer behaviour, and rapid innovation. As real estate’s role as a primary store of value wanes, Chinese households are increasingly diversifying into gold in various and innovative ways.

The conversation also dives into the transformation of China’s jewellery market, including the rise of “hard pure gold”. While consumer confidence remains a key challenge in this high price environment, the episode highlights why China’s gold market remains diverse, sophisticated, and structurally resilient.

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Notable Quotes

“Real estate was a big piece of savings and now people are moving into portfolios and diversification.” – Joe Cavatoni

“For more than 10 years, China has been the most important market for gold.” – Joe Cavatoni

“The investment demand overpassed the jewellery demand in China. It’s never happened before.” – Roland Wang

“Consumers still like to buy it because they buy not only for the appearance, but also for the gold value behind it.” – Roland Wang

“One of the leading gold ETFs in China attracted more than 40 million customers.” – Roland Wang

“The increase in popularity amongst the Chinese ETFs has been a really big part of the story in gold, particularly over the last 12 months” – John Reade

 

About World Gold Council

We are a membership organisation that champions the role gold plays as a strategic asset, shaping the future of a responsible and accessible gold supply chain. Our team of experts builds understanding of the use case and possibilities of gold through trusted research, analysis, commentary, and insights. We drive industry progress, shaping policy and setting the standards for a perpetual and sustainable gold market.

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