China significantly increased its gold imports in June, which rose to approximately 173 tonnes, recording the highest monthly level since March 2024.
This marks the third consecutive month of increase, according to data from Bloomberg and Chinese customs authorities.
This development comes in contrast to reports in Western media, which maintained that China had effectively restricted or rendered prohibitive retail gold purchases, due to deleveraging measures in transactions on the Shanghai Gold Exchange (SGE).
Thanks to the significant rise in June, China's total gold imports during the first half of 2026 reached approximately 820 tonnes. This quantity is nearly double compared to the corresponding period of the previous year and constitutes the second-highest first-half performance on record, trailing only the historic record of roughly 830 tonnes set in 2025.
The strong increase is attributed mainly to increased purchases by investors, who took advantage of the correction in international prices of the precious metal, as well as to the replenishment of bank inventories in order to meet strong demand from private individuals. At the same time, the strengthening of the Chinese yuan made gold imports more economical for domestic buyers.
Banks increased imports of physical gold, boosting bar sales and gold accumulation investment schemes. At the same time, Chinese gold-backed exchange-traded funds (ETFs) have attracted inflows of approximately 28 tonnes since the beginning of the year, a fact confirming that investment demand remains particularly strong.
Overall, the data shows that Chinese investors viewed the recent price retreat as an opportunity for fresh gold purchases, further strengthening their positions rather than exiting the market.
www.bankingnews.gr
Σχόλια αναγνωστών