MarketWatch reports that the waning demand for gold imports to mainland China could place unexpected downward pressure on the market.
As quoted in the market report:
Hong Kong shipments of the metal to mainland China for the month totaled 54 tons, a drop of 29% from the 76 tons shipped in July, according to data from the Hong Kong Census and Statistics Department.
“China’s near-term appetite for gold appears to be waning as bullion imports from Hong Kong slow,” HSBC analysts said in a note following the data release last week
To view the full MarketWatch report, click here.
