China imported more gold again in July from Hong Kong

According to data from the Census and Statistic Department of the Hong Kong government, China imported 55 tons of gold on a net basis from the former British crown colony in July. 

This was nearly 50% more than in the previous month, in which imports were rather weak. Evidently the Chinese took advantage of the considerably lower price level in July to step up their purchases. 

The abrupt end of the equity boom in China is also likely to have boosted buying interest. Palladium fell by 6.3% yesterday, its sharpest daily decline since April 2013, and for a time dropped to a five-year low of less than $530 per troy ounce, says Commerzbank.