China’s January net gold imports via Hong Kong rose almost 69%

Reuters | February 27, 2026 | 10:16 am 

China’s net gold imports via Hong Kong in January rose by 68.7% from December, Hong Kong Census and Statistics Department data showed on Friday.

The world’s top gold consumer imported a net 20.585 metric tons in January, up from 12.205 tons in December, the data showed.

As the world’s leading gold consumer, China’s purchasing activities can significantly influence global gold markets.

The Hong Kong data may not provide a complete picture of Chinese purchases because gold is also imported via Shanghai and Beijing.

China’s total gold imports via Hong Kong reached 36.544 tons in January, up 30.4% from December’s 28.014 tons.

“Chinese New Year likely supported physical gold demand, with gold reaching China ahead of the end of the lunar year,” said UBS commodity analyst Giovanni Staunovo.

Physical gold in China traded at premiums of $12-$13 an ounce above the global benchmark spot price this week as bullion’s safe-haven appeal shone through after markets returned from the Lunar New Year holiday.

Meanwhile, China’s central bank extended its gold buying spree for a 15th month in January, data from the People’s Bank of China (PBOC) showed this month.

Gold surged more than 64% in 2025 and has so far gained about 20% this year. The metal hit a record of $5,594.82 an ounce on January 29. The rally was driven by geopolitical flashpoints across the world, the US Federal Reserve’s interest rate easing cycle, central bank buying and increased inflows into bullion-backed exchange-traded funds.

(By Anmol Choubey and Anjana Anil; Editing by David Goodman)

This news was sourced from mining.com (https://www.mining.com/web/chinas-january-net-gold-imports-via-hong-kong-rose-almost-69/), originally obtained from Reuters.