Lower Prices Boost Gold Imports into China
China significantly increased its gold imports in June as lower international bullion prices encouraged investors and financial institutions to expand their purchases. According to the latest customs figures, the East Asian nation imported approximately 173 tons of gold last month, marking the highest monthly total since early 2024 and extending a three-month streak of rising imports. The increase was largely driven by bargain buying after gold prices retreated from their record highs earlier in the year. A stronger Chinese yuan also made overseas purchases more affordable, encouraging both retail investors and commercial banks to increase their holdings of the precious metal. Banks took advantage of the favorable pricing environment to replenish inventories and utilize their remaining import quotas…