China’s gold imports surged to 173 tonnes in June 2026, marking the largest monthly influx since March 2024. Total gold imports for the first half of 2026 reached approximately 820 tonnes. This increase was driven by softer international gold prices, a stronger yuan, and the utilization of import quotas by banks. Despite a 36% rise in withdrawals from the Shanghai Gold Exchange in June, overall wholesale demand remained subdued compared to historical levels. These substantial imports could influence global gold prices in the coming months.
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