Monday, 20 September, 2021
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China’s net gold imports via HK rebound in June

China’s net gold imports via HK rebound in June

BEIJING: China’s net gold imports via Hong Kong jumped nearly 42 per cent in June after a slump in May, Hong Kong Census and Statistics Department data showed on Monday.

Net gold imports via Hong Kong to China, the world’s top consumer of the metal, stood at 30.887 tonnes in June compared with 21.781 tonnes in May, the data showed, report agencies.

China’s net gold imports via Hong Kong fell more than 50 per cent in May after touching their highest since June 2018 in April. Total gold imports via Hong Kong in June rose to 37.226 tonnes from 26.684 tonnes. “Gold was trading as low as $50 discount in early June, There was good buying interest in China. In addition, we saw bargain hunters buying more below $1,800/oz in spot,” said Bernard Sin, regional director for Greater China at MKS.