You are here: Home » Markets » Commodities » Precious Metals
Business Standard

China gold premiums hit 3-year high on possible import ban

China's net gold imports via main conduit Hong Kong fell 15% from a year earlier to 61.075 tonnes in October

Sethuraman N R & Rajendra Jadhav  |  Bengaluru & Mumbai 

Gold premiums in top consumer China jumped to the highest in nearly three years this week, on worries over a supply shortage that traders said were due to Beijing’s efforts to restrict import licenses. China’s net gold imports via main conduit Hong Kong fell 15% from a year earlier to 61.075 tonnes in October. “While we don’t have the exact numbers, we hear that they (Chinese government) have limited the number of importers,” said Dick Poon, general manager at Heraeus Precious Metals in Hong Kong. There has been no official announcement from China ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Sat, November 26 2016. 00:18 IST
RECOMMENDED FOR YOU