China's May net gold imports surge

China's net gold imports via main conduit Hong Kong surged 50 percent in May from the previous month, data showed on Tuesday. Imports via Hong Kong by the world's top consumer of the metal, minus exports, rose to 57.649 tonnes in May from 38.428 tonnes in April, according to data mailed to Reuters by the Hong Kong Census and Statistics Department.
Total gold imports via Hong Kong soared about 52 percent to 62.386 tonnes in May from 40.95 tonnes in April.
Spot gold prices fell 1.3 percent in May and slid to a more than six-month low on Tuesday, pressured by prospects of rising US interest rates amid a strengthening economy. China does not provide trade data on gold, and the Hong Kong figures serve as a proxy for flows to the mainland.