Gold Flows to Hong Kong Hit Decade-High Before Clearing Launch

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessGold Flows to Hong Kong Hit Decade-High Before Clearing LaunchHong Kong’s imports of gold surged to the most since late-2014 in June, driven by preparations for the city’s recently-launched clearing system as well as solid demand from mainland China.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.279gdv1a9cal21sc]8r3}5l3_media_dl_1.png Hong Kong Census and Statistics(Bloomberg) — Hong Kong’s imports of gold surged to the most since late-2014 in June, driven by preparations for the city’s recently-launched clearing system as well as solid demand from mainland China.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountBullion inflows surged to more than 130 tons, according to the city’s customs authority. Net imports, which indicate how much of the precious metal is staying within Hong Kong, were at their highest since December 2023. Hong Kong began trial operations earlier this month for a clearing mechanism aimed at boosting the city’s role in global trading and pricing of bullion. Ahead of that, banks had to build up inventories of large gold bars to allow physical delivery into the system.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againBut part of the increase was also likely driven by appetite for bullion over the border in mainland China. The city functions as a key transit point for gold to be processed or traded before being re-exported, and the mainland accounts for the bulk of outbound volumes.China’s gold imports hit a two-year high last month, as cheaper prices and a stronger yuan kept investors interested, while banks were motivated to use up import quotas and stock up on bullion to meet retail commitments.Rio Tinto Group will pay its highest interim dividend in four years as first-half profit soared on strong commodity prices and a restructuring drive that boosted earnings.Legislation that would allow the US to impose more restrictions on major buyers of Russian energy, as well as Iran, received overwhelming bipartisan support in clearing a key Senate hurdle late Tuesday.Mysteel webinar on China’s ferrous markets, 14:30CCTD’s weekly online briefing on coal markets, 15:00Mysteel webinar on China’s copper market, 16:00China’s official PMIs for July, 09:30China’s weekly iron ore port stockpilesSHFE’s weekly commodities inventory, ~15:30China sets binding targets for renewables useThis advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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