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China Gold Imports Reach Two-Year High as Hong Kong Bar Shipments Rise
China's gold imports climbed to their highest level in two years in May. Hong Kong recorded a sharp increase in gold bar inflows ahead of a new clearing system launch.
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China's gold imports rose to a two-year high in May, according to data compiled from multiple sources. Hong Kong recorded a surge in gold bar imports during the same period. The increase occurred ahead of the scheduled launch of a new gold clearing system.
Monthly import volumes reached levels last seen in mid-2024.
The data covers both direct shipments to mainland China and flows routed through Hong Kong.
Traders cited the upcoming clearing system as one factor behind the recent rise in Hong Kong volumes. No official statements on the system's operational details have been released. Further monthly data will be required to determine whether the May increase marks the start of a sustained trend.
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CorroborationLimited · 2 sources
