In summary:
China imported the most gold in nearly a year last month, as strong investor demand and central bank policy shifts pushed bullion inflows sharply higher despite record prices. According to customs data released Tuesday, gold imports jumped 73% month-on-month to 127.5 metric tons in April — the highest level since May 2024. Market participants attribute the spike in imports to the People’s Bank of China (PBOC), which is understood to have allocated fresh import quotas to select commercial banks in April. The central bank, which maintains tight control over physical bullion flows, typically issues licenses only to designated institutions.Update (weekly candles):
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