Jun. 22 at 4:19 PM
$GLD $SLV $JNUG $B $GDX
China’s monthly gold imports reached their highest in more than 2 years in May, showing the world’s biggest buyer’s appetite for bullion remained resilient as prices remained under pressure
Imports were around 163 tons last month, the highest since March 2024, according to customs data released on Saturday. Volumes for the 1st 5 months of 2026 were about 692 tons, up by about 76% from a year earlier. (Bloomberg)
China is already the world's largest gold consumer, so this increase is significant. This is also significant, 1 of the most notable aspects of this news is that it focuses on physical gold, NOT PAPER GOLD (ETFs, futures, derivatives)
Bullish Factors
✅ China buying significantly more gold
✅ New gold-clearing infrastructure being built in Asia
✅ Continued diversification away from fiat currencies & govt bonds
✅ Strong institutional interest in physical settlement
✅ Growing competition among financial hubs to attract bullion business
