|Chart 1: China Gold Imports from Hong Kong|
If we look at net gold imports from Hong Kong to China on balance, we have 29.3 metric tonnes of net imports, which is back at the lows of January 2012 (Chart 2). Far less than the net imports in April - July 2012.
At least it is still in line with the 2012 numbers, but I had hoped China would buy more gold.
|Chart 2: China Net Gold Imports from Hong Kong|