|Chart 1: China Gold Imports from Hong Kong|
Net imports were 62 tonnes in November 2012, up from 24 tonnes in October 2012. That's 62/91 = 68% of gold that China bought, excluding gold going from China back to Hong Kong. That's an increase from the previous month October 2012 where the percentage was only 50%.
So that means, China is buying with both hands now. I wonder what will happen in December, as the price of gold got crushed in December 2012. Probably even more buying!