Home / Metal News / Chinese Gold demand remains subdued during February

Chinese Gold demand remains subdued during February

iconMar 29, 2017 17:52
Chinese physical gold demand remained subdued during February this year,said Commerzbank.

CHINA March 29 2017 1:17 PM

SHANGHAI (Scrap Register): Chinese physical gold demand remained subdued during February this year,said Commerzbank.
Analysts cited a data from the Census and Statistics Department of the Hong Kong government showing that China imported a mere net 47.9 tons of gold from Hong Kong in February. 
Admittedly, this was more than in the very weak previous month, which some market participants attribute to stocks being replenished after the Chinese New Year festival at the end of January.
“Nonetheless, year-on-year imports were down. And after the first two months of the year, net Chinese gold imports from Hong Kong are a good 8% below the equivalent figure from last year,” Commerzbank added.
The Swiss gold export figures published last week had already hinted at muted Chinese gold demand in February.

gold prices
precious metals
demand

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

SMM Events & Webinars

All