- Hong Kong imported about 107 tonnes of non-monetary gold in July, down 18% from June, when shipments reached a decade-long high ahead of the July 7 trial launch of the city's gold clearing and settlement system.
- The value of July gold shipments fell to HK$114.71 billion from HK$142.02 billion in June, according to Hong Kong's Census and Statistics Department.
- Despite the monthly pullback, imports remained above February's 72.16 tonnes, while SF Express and Industrial and Commercial Bank of China are developing bullion-storage capacity in Hong Kong.
Quotes
“Import demand related to stocking has started to stabilise since the gold inventory build-up was largely completed in June,”