CHINA'S imports of Gold Bullion from Hong Kong – regarded by many as a proxy for its overall imports – rose in April for the second month in a row, official data released this week show.
China – which overtook India in the last six months as the world's biggest gold buying nation – imported just under 101.8 tonnes of Gold Bullion from Hong Kong in April, and increase of 62% from the previous month, according to figures from Hong Kong's Census and Statistics Department.
April's figure is just shy of the record set last November, when 102.8 tonnes of Gold Bullion headed into China from Hong Kong. Unlike November, however, April saw significant quantities of gold move the other way, with 34.4 tonnes heading into Hong Kong from China, a 38% jump from a month earlier.
Accounting for this, China's net import of Gold Bullion from Hong Kong in April was around 67.4 tonnes – a 77% rise on March's net figure.
Gold demand in China hit record levels in the first quarter of this year, gaining 10% to 255.2 tonnes, according to the World Gold Council's latest Gold Demand Trends.
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