China steps up gold imports in 2022: Swiss gold imports at 4-year highs, Russia gold imports rise China gold
China imported more gold from Switzerland last year and stepped up gold purchases from Russia, according to the latest import data releases.
China is the world’s number one gold consumer, followed by India, with a focus on retail investment and jewelry demand. China’s central bank also stepped up gold purchases at the end of last year, buying 30 tons of gold in December, which followed its November purchase of 32 tons of gold — the People's Bank of China's first officially recorded purchase since September 2019. China's gold reserves now total 2,010 tons.
Swiss exports to Turkey, Singapore, and Thailand also hit multi-year highs last year. Switzerland is known as the world's biggest gold refining hub.
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