China’s Gold Imports Surge to Most in More Than Two Years

China’s monthly gold imports reached their highest in more than two 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 first five months of 2026 were about 692 tons, up by about 76% from a year earlier.

Chinese demand for physical bullion bars, as well as metal linked to gold accumulation plans, have been among the main drivers of the surge, said Song Jiangzhen, a researcher at the Guangzhou ...