China increases imports of gold from Hong Kong

According to the data from Hong kong Census and Statistics Department, in April 2012 China increased gold imports from Hong Kong by 65% – to a record 103.644 thousand kg as compared to 62.913 thousand kg in March this year.

The growth was observed for a third consecutive month, as investors increase the demand for this precious metal to hedge risks in financial markets and the risks associated with the slowing global economic growth.

Growth in imports of gold by one of the biggest consumers in the world can further push up the value of gold, which is getting more expensive recently, against the expectations of possible further action by the Federal Reserve System of the USA to stimulate the economy.