Gold Price in Asia Today

No continent matters more to the gold market than Asia. China and India alone absorb roughly half of all the gold consumers buy worldwide each year (World Gold Council), and the region is home to the world’s largest producer (China, ~380 tonnes mined in 2024, USGS), its biggest refineries, its busiest trading hubs and its deepest jewellery traditions. When Asian demand rises — before Diwali, during wedding season, or when the Chinese New Year approaches — the global price feels it.

The buying cultures differ sharply by country. In Pakistan, India, Bangladesh and Nepal, gold is wedding gold first and an investment second: families buy 22K jewellery by the tola or by 10 grams, and the price per tola is front-page news. In China, bars and coins dominate alongside jewellery, and the Shanghai Gold Exchange sets a yuan-denominated benchmark that often trades at a premium to London. In Japan, gold is a quiet portfolio diversifier bought in grams from banks and dealers. In Thailand, the standard is 96.5% purity sold by the baht weight (15.244 grams) — a market so standardised that gold shops quote buy and sell prices on electronic boards updated through the day. Hong Kong and Taiwan still trade partly by the tael (37.799 grams), a unit that survives from the old Chinese system.

Trading hubs and producing nations

Singapore has become Asia’s premier bullion hub: a free port with deep vaulting, and investment-grade gold is exempt from GST, which keeps premiums among the lowest in the world. Central Asia adds the production side — Uzbekistan (home to Muruntau, one of the world’s largest gold mines, ~129 tonnes in 2024 per USGS) and Kazakhstan (~87–130 tonnes in 2024, with figures varying by source) are both top-15 world producers, and their central banks hold hundreds of tonnes of reserves. Indonesia, the Philippines and Mongolia contribute significant mine output too, while Vietnam and South Korea are steady consumer markets where gold doubles as a household store of value.

One practical note for comparing the table above: the wholesale price per gram in US dollars is nearly identical across Asia, because every market converts the same spot price. The real differences show up at the shop counter — India’s IBJA benchmark runs well above the pure spot conversion because of import duty, GST and local premiums, while Singapore and Hong Kong sit closest to spot. Check the individual country pages — starting with Pakistan, India, China and Singapore — for the local units, taxes and buying guides that explain each market properly.