ICYMI - Reports China has given banks permission to import large amounts of gold

Author: Eamonn Sheridan | Category: News

This an ICYMI on reports that Chinese authorities have given domestic and international banks permission to import large amounts of gold into the country

Reuters cited 5 sources for the information

China is the world's biggest gold consumer but saw a fall in imports during the pandemic as domestic demand switched to other more urgent needs. Economic rebound from H2 2020 kicked off imports again, fuelling a rise in the local premium - if the reports of increased imports are correct the local premium should diminish and the XAU price should benefit. 

This an ICYMI on reports that Chinese authorities have given domestic and international banks permission to import large amounts of gold into the country

Gold futures (COMEX) trade will commence for the week at 5pm US central time (2200GMT).

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