China Imports Over 100 Tons Of Gold Through Hong Kong For The 4th Straight Month!!!
People have been predicting that imports of gold into China would slow down – well August figures suggest they may have, but only by a minute 3 tonnes compared with a month earlier, and the country remains on track to comfortably exceed 1,000 tonnes of known net gold imports for the year, with a total of 723 tonnes imported via Hong Kong for the first eight months.
Extrapolating this over the full year would give a total import figure (via Hong Kong alone) of 1,084.5 tonnes. On the evidence of the past six months’ import figures, the full year total could be quite a bit higher if recent momentum is sustained – and there’s no real sign of it slowing down, at least not yet – it seems more likely that the full year figure could well end up at more like 1,150 tonnes.