AGL 40.40 Increased By ▲ 0.20 (0.5%)
AIRLINK 129.25 Increased By ▲ 0.14 (0.11%)
BOP 6.81 Increased By ▲ 0.21 (3.18%)
CNERGY 4.13 Increased By ▲ 0.10 (2.48%)
DCL 8.73 Increased By ▲ 0.28 (3.31%)
DFML 41.40 Increased By ▲ 0.15 (0.36%)
DGKC 87.75 Increased By ▲ 0.75 (0.86%)
FCCL 33.85 Increased By ▲ 0.50 (1.5%)
FFBL 66.40 Increased By ▲ 0.50 (0.76%)
FFL 10.69 Increased By ▲ 0.15 (1.42%)
HUBC 113.51 Increased By ▲ 2.81 (2.54%)
HUMNL 15.65 Increased By ▲ 0.42 (2.76%)
KEL 4.87 Increased By ▲ 0.09 (1.88%)
KOSM 7.62 Decreased By ▼ -0.21 (-2.68%)
MLCF 43.10 Increased By ▲ 1.20 (2.86%)
NBP 61.50 Increased By ▲ 1.00 (1.65%)
OGDC 192.20 Increased By ▲ 9.40 (5.14%)
PAEL 27.05 Increased By ▲ 1.69 (6.66%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 150.50 Increased By ▲ 2.69 (1.82%)
PRL 24.96 Increased By ▲ 0.40 (1.63%)
PTC 16.25 Increased By ▲ 0.01 (0.06%)
SEARL 71.30 Increased By ▲ 0.80 (1.13%)
TELE 7.25 Decreased By ▼ -0.05 (-0.68%)
TOMCL 36.29 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.05 Increased By ▲ 0.20 (2.55%)
TREET 16.30 Increased By ▲ 1.00 (6.54%)
TRG 51.56 Decreased By ▼ -0.14 (-0.27%)
UNITY 27.35 No Change ▼ 0.00 (0%)
WTL 1.27 Increased By ▲ 0.04 (3.25%)
BR100 9,967 Increased By 125.2 (1.27%)
BR30 30,751 Increased By 714.7 (2.38%)
KSE100 93,292 Increased By 771.2 (0.83%)
KSE30 29,017 Increased By 230.5 (0.8%)

China's net gold imports via main conduit Hong Kong in December halved from the previous month, data showed on Monday, as the world's top gold consumer likely limited import quotas for its banks while the demand for jewellery waned towards end-2018.
Imports via Hong Kong to China, the world's top consumer of the metal, slipped to 19.22 tonnes in December from 37.871 tonnes in November, according to data from the Hong Kong Census and Statistics Department. Total gold imports via Hong Kong plunged nearly 42 percent to 24.149 tonnes last month, compared with 42.104 tonnes in November.
China already imported close to 200 more tonnes of gold in 2018, said Samson Li, a Hong Kong-based senior precious metals analyst, Refinitiv GFMS. "The PBOC (People's Bank of China) probably noticed this, and was reluctant in granting import licenses in December."
In November, China's net gold imports through Hong Kong surged 28 percent from the previous month to their highest since July. Spot gold rose about 5 percent in December, and is up 1.4 percent so far this month. While investment demand did pick up as prices rose, jewellery consumption, which makes up a chunk of demand in China, "lost steam toward the end of the year and fell on a year-on-year basis," Li added. China does not provide trade data on gold, so the Hong Kong figures serve as a proxy for flows to the mainland. The Hong Kong data, however, might not provide a full picture of Chinese purchases because gold is also imported via Shanghai and Beijing.

Copyright Reuters, 2019

Comments

Comments are closed.