October was China’s second highest month for gold imports, according to Hong Kong customs data. With the price of gold cratering this fall, China imported 148 tons in October, the second highest recorded level. In March 2013 China imported 224 tons.
The numbers are not the full window into Chinese demand. Gold may be imported from other countries. China is also the world’s largest gold producer. Take the numbers with a grain of salt, warns Zero Hedge noting that economic numbers have been manipulated by government officials in the past.
The custom numbers are China’s 26-consecutive month of being a net gold importer. “At least someone is grateful for plunging gold prices,” writes Zero Hedge.
Source: mining
Source:Bullion Bulletin