Citing industry sources with direct knowledge of the matter, Reuters reported that China had severely restricted gold imports since May with an aim to curb the outflow of dollars.
"The world's second largest economy has cut shipments by some 300-500 tonnes compared with last year - worth $15-25 billion at current prices, the sources said," Reuters reported.
As of writing, the XAU/USD pair was up 1% on the day at $1,516, showing no signs of a reaction. to this article.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.