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Gold exports to China soar in run-up to year of the rooster
By Ranjeetha Pakiam and Eddie Van Der Walt
Thursday, January 26, 2017
Gold exports to China soared in the run-up to the start of the lunar new year, with volumes increasing in December from major suppliers Switzerland and Hong Kong.
More gold was sent from Swiss refiners to the world's top consumer than in any month since at least January 2014, according to data on the website of the Swiss Federal Customs Administration, while imports from the Asian city-state also increased compared with November.
China is the world's top gold consumer, according to data from researcher Metals Focus Ltd., and the start of the Year of the Rooster this week is associated with gifting the precious metal. Lower prices at the end of last year, brought on by a stronger dollar as the U.S. increased interest rates, supported demand. ...
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