Precious Metals

Bloomberg reported that China imported 30% more gold from Hong Kong in September compared to August.

Bloomberg reported that China imported 30% more gold from Hong Kong in September compared to August.

As quoted in the market news:

Mainland China bought 57 metric tons from Hong Kong in September, up from 43.7 tons in August, the data showed. The imports probably are “a monthly record” as the country imported more than 200 tons in 2010, according to Albert Cheng, managing director at the World Gold Council.

Albert Cheng said:

Chinese buyers are still looking for ways to diversify their portfolio and hedge against the macro uncertainties.

Click here to read the full Bloomberg report.

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