The imports probably are “a monthly record” as the country imported more than 200 tons in 2010, said Albert Cheng, managing director at the World Gold Council, in the report.
“The pullback in prices during September triggered buying interest,” Cheng told Bloomberg. “Chinese buyers are still looking for ways to diversify their portfolio and hedge against the macro uncertainties.”
The gold ETF is up about 7% over the past month.
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