(Reuters) -China’s net gold imports via Hong Kong rose 126.81% in July from June, Hong Kong Census and Statistics Department data showed on Tuesday.

WHY IT’S IMPORTANT

As the world’s leading gold consumer, China’s purchasing activities can significantly influence global gold markets.

The Hong Kong data may not provide a complete picture of Chinese purchases, as gold is also imported via Shanghai and Beijing.

BY THE NUMBERS

Net imports via Hong Kong to China for July stood at 43.923 metric tons, compared to 19.366 tons of net imports in June.

China’s total gold imports via Hong Kong reached 58.296 tons in July, down 67.91% from 34.719 tons in June.

CONTEXT

China’s central bank added gold to its reserves in July, its ninth consecutive month of purchases, official data showed earlier

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