China’s net gold imports through Hong Kong rose by about 17% in July, reaching 25.659 metric tons compared to 21.919 tons in June, marking the first increase since March. Total gold imports via Hong Kong grew by over 6%, totaling 31.457 metric tons. Despite the central bank’s pause in gold purchases since May and record high gold prices, Chinese banks have received new gold import quotas, indicating anticipated demand. Analysts attribute the import rise to a reaction from the banking sector rather than increased jewelry demand, with expectations that economic uncertainty and concerns over currency weakness will boost future gold investment.