China Sees Surge in Gold Imports Amid Lower Prices and Stronger Yuan

China's gold imports reached a two-year high in June, with about 173 tonnes entering the country. This marks the third consecutive month of rising imports as investors take advantage of lower international gold prices and a stronger yuan. The surge is also attributed to banks maximizing their import quotas under the new licensing regime that started on June 1.

According to analysts, strong consumer interest in gold accumulation plans and jewelry has driven this increase. Year-to-date imports have jumped 76% compared to last year, reflecting growing demand for physical gold. The gold jewelry sector is expected to remain stable as it replenishes after weaker sales earlier in the year.