The demand for gold in China, the world’s largest consumer of this precious metal, is moving downwards, according to an analysis of China’s foreign trade statistics for the first quarter conducted by the research agency GFMS. According to analyst Samson Lee, gold imports to China from Hong Kong and Switzerland in the first quarter grew by 14.2% year-on-year to 291.4 tons compared to the usual average growth of 85%. Import of gold to China from Hong Kong and Switzerland in March decreased by 27% to the minimum since 2012, the size of 99.1 tons. In GFMS it was calculated that from October 1, 2017 to March 31 this year, gold was imported to China by 20.1% less than a year ago.
