China's Gold Reserves Remained Unchanged In October

- Nov 08, 2017-

China's central bank said on Tuesday that China's gold reserves remained unchanged for 59 million 240 thousand ounces in October, Reuters reported on Tuesday (November 7th). At the same time, gold imports in India, the largest consumer in the world after China, dropped by 31% compared with last month, according to people familiar with the matter.

The person said that in October, warehousing goods fell from 96.7 tons to 66.8 tons, because the data is not public, so it can not be identified. According to Bloomberg data, this figure will make imports in the first 10 months to 777.1 tons, an increase of 91%. Malik, spokesman of the Ministry of Finance in India, did not respond to his mobile phone to confirm the amount in October.

According to reports, China's gold production in the first half of 2017 fell by 10% or 23 tons, down 9.85%. Last year, the production was 230 metric tons.