Waning Chinese Demand Could Dampen Market

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.