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China's net gold imports via Hong Kong in April dropped approximately 38 percent from the previous month, according to data from the Hong Kong Census and Statistics Department published on Monday.

Net imports into the world's largest gold consumer totaled 34.575 metric tons in April, compared to 55.836 tons in March, the data showed.

Total gold imports via Hong Kong were down by about 32 percent at 43.261 tons for April.

The Hong Kong Census and Statistics Department figures provide valuable insight into demand trends for gold in mainland China, the world's biggest buyer of the precious metal. The data comes after a period of strong import numbers earlier this year and highlights the volatility in monthly import flows.

China's net import figure takes into account any re-exports out of Hong Kong back to mainland China. A slowdown in net gold imports indicates weaker demand and purchasing from the industrial and investment sectors across the border in April versus the month prior.

(Reuters)

File Photo

China's April net gold imports via Hong Kong down 38pc from March