Gold imports from Hong Kong into mainland China surged to a five month high in September as retailors stocked up prior to China’s holiday season. Total net imports reached 61.7 metric tonnes the highest since April 2014.
The increased demand was driven by 11% increase in jewellery sales, according to the National Bureau of Statistics. Increased jewellery sales combined with a lower gold price is a strong indication of consumer demand according to local analyst Lui Xu.
Gold is currently trading at £762.25 per ounce, silver £10.71 per ounce, platinum £781.11 per ounce and palladium £489.88 per ounce.