China's gold imports down 300-500 tonnes since May, worth $15-25 billion - Reuters

Eren Sengezer FXStreet

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.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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