Pursuits
China’s Gold Imports Slide in June as Rising Prices Deter Buyers
- Purchases slowed as prices climbed, Shandong Gold’s Jiang Says
- China’s gold consumption plunged 7.7% in 1H: Securities News
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China, the world’s biggest gold consumer, cut bullion imports from Hong Kong in June as increasing prices deterred buyers and after shipments the previous month had helped replenish inventories.
Net purchases fell to 68.7 metric tons from a five-month high of 101 tons in May, according to data from the Hong Kong Census and Statistics Department compiled by Bloomberg. The imports compared with 22.1 tons a year earlier. The mainland bought 83.4 tons, down from 122 tons in May, while exports were 14.7 tons from 20.9 tons. Mainland China doesn’t publish the data.