China Gold Imports Soar To Two Year High, As Hong Kong Gold Bar Imports Surge Ahead Of Clearing System Launch | Metals Mine

  • China Gold Imports Soar To Two Year High, As Hong Kong Gold Bar Imports Surge Ahead Of Clearing System Launch

    From zerohedge.com

    China’s monthly gold imports reached their highest in more than two years in May, showing the world’s biggest buyer’s appetite for bullion remained resilient as prices remained under pressure; the number prompted some to scratch their heads as to where all this gold is going in light of tepid official central bank purchases, coupled with the lowest gold withdrawals from the Shanghai Gold Exchange since the covid outbreak. As Bloomberg reports, imports were around 163 tons last month, the highest since March 2024, according to customs data released on Saturday. Volumes for the first five months of 2026 were ... (full story)

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deaftrader
2 hr 8 min ago
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China's gold imports hitting a two-year high shows that physical demand remains extremely strong. This is another sign that investors are using gold as a hedge against currency weakness and global uncertainty. Fundamentally, this supports a bullish long-term outlook for gold, although short-term price action will still depend on the USD and market sentiment.
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