تراجع واردات الصين من الذهب في أبريل 2024

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Transcript

00:00 With the demand recession and price jump, China's gold imports have slowed in April this year.

00:07 China is the largest gold consumer.

00:10 Will it lose its yellow diamond reputation?

00:12 Let's look at the details.

00:14 China's gold imports in April this year have receded.

00:18 And of course, as we see in this graph, gold purchases from abroad have receded to about 136 tons in April.

00:25 And this is a 30% decrease on a monthly basis.

00:29 As we see in March, it reached about 180 tons this year.

00:34 But if we want to talk about the reasons behind the demand recession,

00:38 it is no doubt that the warning of the Chinese authorities from the increase in the gold market was a main reason.

00:44 This is not a price increase.

00:47 This issue affected demand.

00:49 Of course, also for Shanghai Gold, it raised the demand for yellow diamond coverage for some contracts.

00:56 But if we want to talk about the reasons behind Shanghai Gold's stock price and the reasons or incentives it took,

01:02 it is no doubt that the Chinese purchases, which reached record levels last year, even in the past months, were the reason.

01:11 If we look here, the purchases of consumers from the first quarter of this year reached more than 300 tons.

01:18 And the reasons behind the demand rise during this period, of course, is the weakening of the yuan compared to the dollar.

01:23 This is not a fluctuation in the markets of the stocks.

01:26 And of course, the crisis of the real estate sector in the country, so the consumer or the investor fled to a safe place.

01:33 What about the Central Chinese Bank?

01:35 The Central Chinese Bank increased the gold reserve for the 18th month on a continuous basis by 316 tons.

01:43 This is nothing but the amount of gold added to the reserves last year in particular was more than the reserve in 50 years.

01:52 In general, we have talked a lot recently about the investments around the rise in gold prices.

01:58 But now, with the decline in demand by China, will the equation change?