Chinas gold imports from Hong Kong at record high in November

Source: China.org.cn
China's November's gold purchases from Hong Kong soared to record high on the strengthening demand ahead of the Chinese New Year and on investor's desire to hedge risks amid weak equity markets. China bought 102,779 kilograms in November as compared to 86,299 kilograms in the preceding month. Moreover, China has to raise its gold reserves to promote internationalization of the Yuan and diversify foreign exchange reserves, said Xia Bin, an adviser to the China's central bank.


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