China gold imports fall from hong kong

Hong Qiao Pearl Market, Beijing, China Photo: Gillpenney

Imports fell to 52.204 tonnes from 66.363 tonnes in March 2015, the Hong Kong Census and Statistics Department told Reuters.

Investment in Bars and coins have come under pressure this year in the face of buoyant stock markets, according to the World Gold Council.

China and India alone account for 54 per cent of total global consumer demand, with consumer demand in India rising 15 per cent to 192t. In China, though, it declined 7 per cent from the same quarter in 2014 to to 273t.

Chinese demand for jewellery also fell 10 per cent to 213t against the same quarter in 2014, as slower economic growth and a buoyant stock market affected consumer purchases.

Despite the downward trend, though, demand in the first three months of the year exceeded the five-year quarterly average by 27 per cent, lending weight to the view that the longer-term uptrend is comfortably intact.