International Markets
London Gold Spot Price: The London gold spot price is a crucial reference for the international gold market. On March 17, 2025, it was $2995.38 per ounce. To convert this to the price per gram, we know that 1 ounce is approximately equal to 28.35 grams. So, the price per gram is about $2995.38 / 28.35 ≈ $105.66. The price had an increase of $5.62 compared to the previous day, with a growth rate of 0.19%. London is a major global trading center for precious metals, and the fluctuation of the London gold spot price reflects the overall supply and demand situation of the global gold market, as well as the impact of various factors such as geopolitical events, economic data, and currency fluctuations.
New York Gold Futures Price: The New York gold futures price was $3004.3 per ounce on March 17, 2025. Converting to the price per gram, it is around $3004.3 / 28.35 ≈ $106.0. The price increased by $3.2, with a growth rate of 0.11%. Futures prices are affected by market expectations of future gold supply and demand. Traders and investors in the futures market consider factors such as changes in mining production, industrial demand, and investment trends to predict the future direction of gold prices. The difference between the New York gold futures price and the London gold spot price can be attributed to factors such as the cost of carrying, storage, and market expectations.
Domestic Markets in China
Shanghai Gold Spot Price (Gold T + D): The Shanghai Gold Exchange’s Gold T + D is an important part of China’s precious metals market. On March 17, 2025, the Gold T + D price was 694.9 yuan per gram, with an increase of 1.62 yuan or 0.23%. This market allows investors to trade gold with a certain degree of leverage and flexibility. The price of Gold T + D is affected by both domestic and international factors. Domestic economic policies, industrial demand for gold, and the flow of funds in the financial market all have an impact on its price. In addition, the exchange rate of the RMB against the US dollar also plays a role, as changes in the exchange rate can affect the cost of importing and exporting gold.
Shanghai Gold Futures Price (Hu Jin): The Shanghai gold futures price was 695.94 yuan per gram on March 17, 2025, with an increase of 3.66 yuan or 0.53%. Similar to the New York gold futures market, the Shanghai gold futures market provides a platform for market participants to hedge and speculate on gold prices. The price of Shanghai gold futures is closely related to the spot market price, and it also reflects the market’s expectations for the future supply and demand of gold in the Chinese market. Traders in the futures market analyze various factors such as domestic economic data, government policies, and changes in industrial production to make trading decisions.
Retail Prices of Gold Brands: In the Chinese domestic market, the retail prices of different gold brands also vary. For example, on March 17, 2025, the basic gold price of China Gold was 694.9 yuan per gram, and the retail price was 708.9 yuan per gram4. The gold price of Gauselmann was 707 yuan per gram4. Qilu Gold Store sold gold at 776 yuan per gram, and Taiyang Gold Store’s gold price was 779 yuan per gram4. In Beijing, Baoqingyinlou’s gold price was 889 yuan per gram4. In Tianjin, Yiyijin Store’s gold price was 902 yuan per gram4. Zhou Dasheng’s gold price was 905 yuan per gram, and Laomiao Gold’s gold price was 902 yuan per gram, while its gold bar price was 857 yuan per gram4. Caibai’s gold price was 865 yuan per gram4. These price differences are mainly due to factors such as brand value, processing technology, and store location.
Gold Prices in India
Delhi: In Delhi, the price of 10 grams of 24 – carat gold was ₹89,833.0 on March 17, 2025, which means the price per gram was ₹8983.3. The price of 22 – carat gold was ₹8236.3 per gram. Compared to the previous day, the price of 24 – carat gold decreased by ₹10.0. The price fluctuation of 24 – carat gold over the past week was – 2.18%, and over the last month, it was – 4.14%.
Chennai: The gold rate in Chennai was ₹89,681.0 for 10 grams, so the price per gram was ₹8968.1. Yesterday’s gold rate was ₹89,811.0 for 10 grams, and last week’s gold price was ₹87,851.0 for 10 grams.
Bangalore: In Bangalore, the gold rate was ₹89,675.0 for 10 grams, that is, ₹8967.5 per gram. Yesterday’s gold rate was ₹89,805.0 for 10 grams, and last week’s gold price was ₹87,845.0 for 10 grams.
Hyderabad: The gold rate in Hyderabad was ₹89,689.0 for 10 grams, with a price per gram of ₹8968.9. Yesterday’s gold rate was ₹89,819.0 for 10 grams, and last week’s gold price was ₹87,859.0 for 10 grams.
Visakhapatnam: In Visakhapatnam, the gold rate was ₹89,697.0 for 10 grams, which is ₹8969.7 per gram. Yesterday’s gold rate was ₹89,827.0 for 10 grams, and last week’s gold price was ₹87,867.0 for 10 grams.
Factors Affecting Gold Prices
Geopolitical Tensions: Geopolitical tensions can have a significant impact on gold prices. For example, the air strikes by the US and the UK on Yemen have made investors worried about the impact on the global economy, leading to an increase in the safe – haven demand for gold. Uncertainty in geopolitics can disrupt the global economic order, causing investors to seek safe – haven assets to protect the value of their assets, thereby driving up the price of gold.
Economic Data: Economic data releases, especially those related to major economies such as the US, can affect gold prices. If the US retail sales data and the New York manufacturing data released on March 17 are worse than expected, it will strengthen the market’s expectations for a Fed rate cut, which is bullish for gold. A rate cut would weaken the US dollar, making gold more attractive to investors. On the contrary, if the economic data is better than expected, it might lead to a strengthening of the US dollar and put pressure on the gold price.
Industrial Demand: Although gold is mainly used in jewelry and investment, it also has some applications in the industrial field, such as in electronics and aerospace. Changes in industrial demand for gold can also have an impact on its price. With the development of emerging technologies such as 5G, artificial intelligence, and the Internet of Things, the demand for gold – plated connectors and other components in the electronics industry may increase, which will provide some support for the gold price.
Investor Sentiment and Positioning: Investor sentiment and positioning also play an important role in determining gold prices. If investors are generally optimistic about the future trend of gold, it will drive more buying behavior, thereby pushing up the price. At the same time, the positioning of institutional investors and large – scale funds can also affect the short – term trend of the gold market. If institutional investors increase their gold holdings, it will have a positive impact on the gold price. On the contrary, if investors are bearish on gold and sell their holdings, it will lead to a decline in the gold price.
