The upbeat December gold imports number out of China is just a temporary relief before a steep drop in gold demand this year due to coronavirus fears and growing economic uncertainty, according to analysts. Capital Economics described China’s positive December gold imports, which were around 150 tons, as “a flash in the pan.” “The latest data from China’s customs authority showed that imports of gold increased three-fold in m/m terms in December. This tallies with a seasonal pick-up in jewellery demand in the run-up to Chinese New Year,” wrote Capital Economics commodities economist Alexander Kozul-Wright. (full story)