China Offers Banks Extra Gold Import Quotas as Investors Flock

The People’s Bank of China has allocated fresh gold import quotas for some commercial banks, people familiar with the matter said, as Beijing responds to strong haven demand from institutional and retail investors in the face of an escalating trade war.

The central bank typically limits the amount of physical bullion coming into the world’s top-consuming market. The additional quotas were allocated last week to meet significantly increased appetite, the people said. They asked not to be named as the decision is not public.