China’s November net gold imports via Hong Kong hit seven-month high
The world's top gold consumer imported a net 33.074 metric tons in November, up 115% from 15.414 tons in October, its highest level since April 2024.
Gold fell again today – to $1,581.39 USD/oz.
Gold has dropped 5% in the month of February, the fifth straight month of losses.
ETF holdings of gold are a big part of the story.
An exodus from the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust has continued into a seventh consecutive month, which is the longest period of net outflow in the history of the fund.
US equities gains on the back of increased economic optimism. Earlier this week, Fed Chairman Ben Bernanke used only mild language in support of the bank’s asset purchase program know as quantitative easing.
