China’s net gold imports surge to seven-month high

China’s net gold imports through Hong Kong in November increased by more than double compared to October, reaching the highest level in seven months, according to data from the Hong Kong Census and Statistics Department released on Monday.

The top gold consumer imported 33.074 metric tons in November, a 115 per cent increase from October’s 15.414 tons, marking the highest level since April 2024.

Total gold imports via Hong Kong reached 45.22 metric tons, up 60 per cent from October and the highest in eight months.

China is the top gold consumer globally, and its gold purchases can impact global prices. The country’s central bank started buying gold again in November after a six-month break, as per official data.

Attribution: Reuters

Subediting: Y.Yasser