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China renews appetite for gold with US$8.5 billion set to arrive as central bank relaxes quotas

Summary:
[unable to retrieve full-text content]China has given domestic and international banks permission to import large amounts of gold into the country, according to five sources familiar with the matter, potentially helping to support gold prices after a months-long decline.China is the world’s biggest gold consumer, gobbling up hundreds of tonnes worth tens of billions of US dollars each year, but its imports plunged as the coronavirus spread and local demand dried up.With China’s economy rebounding strongly since the second half of…

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[unable to retrieve full-text content]
China has given domestic and international banks permission to import large amounts of gold into the country, according to five sources familiar with the matter, potentially helping to support gold prices after a months-long decline.China is the world’s biggest gold consumer, gobbling up hundreds of tonnes worth tens of billions of US dollars each year, but its imports plunged as the coronavirus spread and local demand dried up.With China’s economy rebounding strongly since the second half of…
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