China’s Gold imports hit a five month high in September

FXStreet (Mumbai) - The declining trend in Gold witnessed during the month of September saw a rise in the bargain hunting from Asia ahead of the festive season.

China’s net gold imports from Hong Kong hit a five month high in September as the Chinese citizens stocked up ahead of the National Day holiday. Net imports from Hong Kong to the mainland 61.7 metric tons last month, the most since April, according to Bloomberg. Total gold imports from Hong Kong totalled 91.745 tonnes as the Chinese citizens bought the yellow metal ahead of the annual holiday in the first week of October. This period also marks a pick-up in weddings, boosting demand for gold jewellery.