* Net HK gold exports to China rise 77 pct to 67,400 kg
* Imports from China rise 38 percent on month to 34,368 kg
* April HK gold exports to China 101,768 kg
(Adds details, comments)
By Rujun Shen
SINGAPORE, June 4 Hong Kong's gold shipments to
mainland China in April jumped 62 percent to the second-highest
level on record, while gold flow from China increased to an
unprecedented level, official Hong Kong trade data showed on
Hong Kong shipped out 101,768 kg of gold to mainland China
in April, and received 34,368 kg from China, which brings the
net exports to 67,400 kg, a surge of 77 percent on the month,
according to the data posted on the website of the government
Last November, a record 102,525 kg of gold arrived in China
from Hong Kong, a gold trading hub and a main conduit for gold
flow into China.
Spot gold hit a record high of $1,920.30 last
September, and prices then stabilised in March and April.
"It could partly be caused by the levelling of volatility,"
said Nick Trevethan, senior metals strategist at ANZ in
"The first quarter looked to start strongly and it did,
which might have encouraged people to book materials in response
to a more stable price environment."
Several market participants recalled slow business in the
physical market in April, and were unable to comment on why both
gold imports and exports rose so strongly in the month.
In the first four months of the year, Hong Kong sent a total
of 237,287 kg of gold to China, and received 70,688 kg from the
On an annualised basis, net gold exports to China could
reach nearly 500 tonnes in 2012, compared with last year's 380
tonnes, according to Reuters calculations.
China has overtaken India as the world's top gold consumer
in the past two quarters, with consumer gold demand in the first
quarter of 2012 hitting a record high of 255.2 tonnes, said the
World Gold Council.
China does not publish gold trade data.
China has not announced any change in its official gold
holdings in more than four years, although speculation that
Beijing has been quietly accumulating gold has helped support
Gold slightly on Monday as losses on the wider financial
markets prompted some selling after the metal's biggest one-day
price rise in over three years, but was supported by speculation
the Federal Reserve could unveil a new round of monetary easing.
Spot gold was down 0.2 percent at $1,621.64 an ounce
at 1121 GMT.
(Editing by Anthony Barker)