Chinese gold imports from Hong Kong totaled 112 mt in March, up 55% from 72 mt a year earlier, data released by the Hong Kong Customs and Statistics showed Thursday.
The figure is more than double 48 mt in February and the highest volume since May 2016.
Year to date, imports to the Chinese mainland stand at 191 mt, 21% higher than 159 mt in the same period in 2016.
When combined with imports from Switzerland to the Chinese mainland, using the most recent Swiss Federal Customs data, total gold imports into China totaled 136 mt in March, up 34% from 101 mt a year earlier, and nearly double the 70 mt in February.
Combined imports year to date stand at 255 mt, down marginally from 259 mt a year earlier.
Based on the London Bullion Market Association settlement price, gold averaged $1,231/oz in March, down from $1,234/oz in February.
The LBMA Gold price settled at $1,235.85/oz Thursday morning, down $14.45 on the day to its lowest level for six weeks.
China is the world's largest consumer of physical gold, ahead of India in second place. Together they account for nearly half of global consumption.
