China increased the import of gold through Hong Kong last month, with gross gold imports for the month of October coming in at 147.92 tonnes, of which 131,19 tons remained as net import. China has imported more than 100 tonnes of gold each month in the past six months. Gross imports in the first ten months of 2013 have doubled compared to the same period in 2012.
In the first ten months of 2013 China has imported a net amount of 957.22 tonnes of gold from Hong Kong. With two months to go it is quite obvious that China will surpass the 1,000 tonne estimate by the World Gold Council. Gross imports for this year stand at 1,262.82 tonnes, double the amount in the same period of last year.
- Source, Market Update:
