Shipments to China from Hong Kong were 116.3 metric tons in September, with exports to Hong Kong of 6.9. This left net imports of 109.4 metric tons, down 0.7% from 110.2 the prior month, according to news reports.
“Month-to-month data that show small changes are not really that meaningful. What counts is the trend over a longer period…,” said Jeffrey Nichols, managing director of American Precious Metals Advisors and senior economic consultant for Rosland Capital. China “has become in recent years perhaps the major factor in the physical market and it’s likely to remain so or become even more-so in the years ahead.”