Is GOLD moving higher again? - China’s Gold Imports Surge to 11-Month High

Is GOLD moving higher again? - China’s Gold Imports Surge to 11-Month High
The People’s Bank of China (PBOC) is reported to have issued new gold import quotas to selected commercial banks in April.

According to a Bloomberg report on Tuesday, citing Chinese customs data, China’s gold imports jumped significantly last month. Preliminary figures had surfaced earlier in May, but this latest data provides more detailed insights.

Summary:
China imported the most gold in nearly a year in April, as strong investor demand and strategic central bank actions drove bullion inflows sharply higher — despite record-high prices.
Customs data released Tuesday showed gold imports surged by 73% month-on-month to 127.5 metric tons — the highest level since May 2024.
Market analysts attribute the spike largely to the People’s Bank of China, which reportedly allocated fresh import quotas to selected commercial banks in April. The central bank tightly controls physical gold flows and typically grants import licenses only to designated institutions.

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