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China's gold imports surge to 11-month high despite record prices
By Yihui Xie
Bloomberg News
Tuesday, May 20, 2025
China imported the most gold in nearly a year last month despite record prices, after heightened demand for the precious metal prompted the central bank to ease restrictions on bullion inflows.
Total gold imports to the country reached 127.5 metric tons, a 11-month high, according to customs data released today. This represents a 73% jump from a month earlier, even after gold hit successive all-time highs, at once point touching $3,500 an ounce.
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The rise in imports is likely due to the People's Bank of China allocating fresh quotas to some commercial banks in April, as the authority responds to strong demand from institutional and retail investors at the height of the trade war. The central bank controls physical bullion flows, typically granting import licenses and quotas only to select banks. ...
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