Cai Xin (財新網) – Who is buying gold? Behind the surge of gold inflow to the mainland in Hong Kong
Cai Xin (財新網), Monday, 10 May 2021 – Who is buying gold? Behind the surge of gold inflow to the mainland in Hong Kong
Joshua Rotbart, managing partner of precious metals service provider J. Rotbart & Co, also said in an interview with Caixin that the surge in net gold inflow figures from Hong Kong to the mainland in March may be due to strong demand for gold in China, both as jewelry and investment, amid the economic recovery. He said that usually when the economy turns around, people’s demand to buy gold for jewelry will rise, so now we can see jewelry demand growing as China’s economy recovers. At the same time, as the economy recovers, concerns about possible inflationary pressures and debt expansion make gold still an important safe-haven option from an investment perspective.
In addition, Joshua Rotbart believes that the active Hong Kong channel may be due to the previous backlog of gold stocks in Hong Kong due to the epidemic, which are now able to be shipped to the mainland as mainland demand recovers. On the other hand, it may stem from the gradual stabilization of the political environment in Hong Kong. During the 2019 social movement period, the mainland’s gold import figures from Hong Kong had dropped significantly, at which time the mainland turned to Australia and Switzerland. Direct imports to China, and now net gold inflows, are growing, perhaps showing the central government’s confidence in the stability of Hong Kong, which is regaining its status as an important gold import hub.
On top of that, Joshua Rotbart added that gold prices are still low and it is a good time for Chinese investors to buy a lot of gold. Gold prices fell from the beginning of the year to the end of March due to higher U.S. 10-year Treasury yields and expectations of tighter liquidity.
贵金属服务商 J.Rotbart & Co. 的管理合伙人Joshua Rotbart接受财新记者采访时亦表示，3月香港向内地的黄金
此外，Joshua Rotbart 认为，香港渠道的活跃，
除此之外，Joshua Rotbart 补充称，目前金价仍处低位，对于中国投资者来说，