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Tuesday, 13 December 2011

China’s HK Gold Imports Reach October Record High

Imports of gold from Hong Kong by China reached an all-time high of 85.7 tonnes in October, a 50 per cent hike from a month ago and up by more than 40 times from a year ago, data from the Hong Kong government showed.

It was the fourth consecutive month that China's gold flows from Hong Kong reached new highs, accounting for more than one-quarter of overall global demand.

Tom Kendall, precious metals analyst at Credit Suisse in London, said in the Financial Times he sees overall Chinese imports of the yellow metal hitting 470 to 490 tonnes for the full year, up from last year's 245 tonnes....more

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