China imported 173 tonnes of gold in June, the largest monthly influx since March 2024, taking first-half 2026 purchases to approximately 820 tonnes. Bloomberg ties the rise to softer international prices, a stronger yuan, and banks using their import quotas. Wholesale demand inside the country, though, remained subdued compared to historical levels.
China's gold imports surged to 173 tonnes in June, the largest monthly influx since March 2024, as reported by @KobeissiLetter. That takes total gold imports for the first half of 2026 to approximately 820 tonnes.
The rise aligns with a period of softer international gold prices, a stronger yuan, and the use of import quotas by banks, according to Bloomberg.
However, the World Gold Council noted that although withdrawals from the Shanghai Gold Exchange increased by 36% in June, overall wholesale demand remained subdued compared to historical levels.
Beyond the import data, the Federal Reserve's monetary policy decisions and geopolitical tensions could also play a critical role in shaping gold price movements. Observers will watch as well for any significant changes the People's Bank of China announces to its gold reserves, which could add context to the June figures.
Market pricing, meanwhile, implies a modest probability of gold reaching higher price targets, with most sub-markets showing low YES percentages.
Source: Crypto Briefing
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