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Albert Sung is the author of the Katchum Macro-Economic Blog, monitoring breaking economic news from a day to day basis. He started investing in 2008 because of the economic crisis and holds a masters degree in chemical engineering. Previously, he worked several years as a process engineer at... More
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  • China Gold Imports From Hong Kong Slowing Down In May 2012 1 comment
    Jul 10, 2012 4:14 PM | about stocks: GLD, PHYS

    Time for a little update on my previous article on China's gold imports from Hong Kong. For May 2012, China imported 75.6 metric tons from Hong Kong. Pretty disappointing if you ask me, but the trend is still going up. The May 2012 imports are a sixfold increase from a year earlier, but down from April 2012's record.

    China Gold Imports from Hong Kong

    Chart 1: China Gold Imports from Hong Kong

    Disclosure: I am long PHYS.

    Stocks: GLD, PHYS
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  • Market Predictor
    , contributor
    Comments (47) | Send Message
    Maybe China used its Dollar reserves to buy Yuan instead of Gold to stop the Yuan falling so hard against the fast strengthening Dollar in May. The Yuan still fell against the Dollar but maybe not as much as it would have done.
    11 Jul 2012, 02:51 AM Reply Like
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