China's Gold Imports Reach Two-Year High Amid Price Decline
China's gold imports surged to a two-year high in June, driven by a significant drop in international gold prices. According to customs data, overseas purchases increased for the third consecutive month, reaching approximately 173 tons. This rise in imports is attributed to cheaper gold prices and a stronger yuan, which have attracted investors. Chinese banks have also been motivated to utilize import quotas and stock up on bullion to meet retail commitments. The increase in gold imports is further supported by bullion-backed exchange-traded funds, which have seen net inflows of around 28 tons this year. 
