China’s Gold Imports Tumble Again as Record Prices Deter Buyers
- Nation’s voracious appetite for bullion peaked in January
- Central bank has also halted purchases in recent months
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Chinese consumers continued to pull back on gold purchases last month, as record prices and a sustained economic slowdown curbed demand in the world’s biggest bullion-buying nation.
Gold imports in July fell 24% to 44.6 tons, the lowest in more than two years, according to customs data released on Tuesday. That follows an even sharper decline in June, when shipments plunged 58% from the previous month.