China Gold Imports Surge to 26-Month High of 163 Tonnes in May

China's gold imports jumped to a 26-month high in May, underscoring resilient physical demand from the world's top buyer despite prices remaining 25% below early-2026 peaks. Customs data showed 163 tonnes imported for the month, lifting year-to-date totals to 692 tonnes, a 76% increase from the same period last year. Strong bar buying, consumer accumulation, and banks exhausting quotas ahead of new licensing rules supported the surge, while Federal Reserve rate-hike expectations bolstered the dollar and pressured gold and silver prices.