Search

NEWS
ECONOMY | Staff Reporter, Hong Kong
Published: 08 Jul 13
569 views


HK gold exports to China jump 36% in May

Second strongest monthly rise on record.

The Hong Kong Census and Statistics Department said Hong Kong’s net gold exports rose to 108.8 tons in May from 80.1 tons in April. Gold exports hit an all-time high of 136.2 tons in March.

Analysts said it was the second strongest monthly reading on record and said lower prices attracted mainland buyers. Gold has lost more than 26% of its value so far this year, prompting a rush for gold jewelry, bars and coins in Asia.

Hong Kong’s gold exports for the first five months this year came to 413.4 tons, double that from the year-ago period. China imported 832.2 tons of gold in all of 2012.

Analysts, however, said that because of strong buying during the first five months of the year, they do not expect buying on this scale to continue for the rest of the year. Buyers are also putting off purchases in anticipation of a further drop in gold prices.
 



Sign up for our newsletter

 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.

Tags: Hong Kong Census and Statistics Department, net gold exports

LATEST ECONOMY JOBS »
  • No jobs posted on this category.
    PRINT ISSUE »

    Available at news stands now 

    Subscribe Now
    Cash-flush tourists in HK

    69 views

    Is Central Hong Kong a ghost town in the making?

    133 views

    As goes Singapore, so goes Hong Kong?

    113 views

    MOST READ EXCLUSIVES

    Hong Kong’s 10 most expensive hotel suites

    Hong Kong’s 10 most expensive hotel suites

    Guess which tops the list at HKD158,000 a night.

    by KRISANA GALLEZO
    26 May 2014 | 5565 views
     

    See how this fashion startup aims to fill the gap where Pinterest has failed

    See how this fashion startup aims to fill the gap where Pinterest has failed

    It plans to be the go-to site for future brides.

    by
    13 May 2014 | 422 views

    See how Zyppos allows you to hire travel experts for worry-free flights

    See how Zyppos allows you to hire travel experts for worry-free flights

    It helps you find the best flights and lowest fares.

    by KRISANA GALLEZO
    29 May 2014 | 99 views
     
    close Don't Show Again

    STAY INFORMED! Get our free weekly newsletter