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Gold Bullion Imports Into China via Hong Kong More Than Doubles in March

Gold bullion imports into China via main conduit Hong Kong more than doubled month-on-month in March, data showed on Tuesday as reported by Reuters.

Net-gold imports by the world’s top gold consumer through the port of Hong Kong rose to 111.647 tonnes in March from 47.931 tonnes in February, according to data emailed to Reuters by the Hong Kong Census and Statistics Department.

China’s net-gold imports rose to its best since May 2016. Total gold imports rose to 116.68 tonnes in March from 49.026 tonnes in February.

China Gold Import, Monthly from Hong Kong, 2001 - 2017

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China Gold Import, Monthly from Hong Kong, 2001 - 2017

China’s net-gold imports via Hong Kong more than doubled in March to 111.6 tonnes. Chart not updated as official data not publicly available yet. Source: Goldchartsrus.com - Click to enlarge

Both total and net imports in March rose for a second straight month.

Gold has risen over 10 percent so far this year, driven by geopolitical worries.

Shanghai Gold Exchange, 2008 - 2017

Shanghai Gold Exchange, 2008 - 2017

Source: Goldchartsrus.com - Click to enlarge

Gold bullion is often seen as an alternative investment during times of political and financial uncertainty.

Gold prices eased on Tuesday as investor sentiment remained skewed towards riskier assets in the wake of the French election results last weekend, though concerns over tensions on the Korean peninsula limited the safe-haven metal’s losses.

London Gold Selling Prices, 2007 - 2017

London Gold Selling Prices, 2007 - 2017

- Click to enlarge

 

Full story here
Mark O'Byrne
I founded GoldCore more than 10 years ago and it has been my passion and a huge part of my life ever since. I strongly believe that due to the significant macroeconomic and geopolitical risks of today, saving and investing a portion of one’s wealth in gold bullion is both wise and prudent.
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