<div id="readability-page-1"><div> China's net gold imports via Hong Kong in December fell by about 24% from November, Hong Kong Census and Statistics Department data showed on Tuesday. WHY IT'S IMPORTANTAs the world's leading gold consumer, China's purchasing activities can significantly influence global gold markets.The Hong Kong data may not provide a complete picture of Chinese purchases, as gold is also imported via Shanghai and Beijing.BY THE NUMBERSNet imports via Hong Kong into China for December stood at 12.205 metric tons, compared with 16.16 tons in November.China's total gold imports via Hong Kong reached 28.014 tons in December, down 7.3% from 30.22 tons in November.KEY QUOTE&#34;The elevated prices clearly seem to be having some impact on demand. Having said that, domestic prices are at a premium to the international price, so it's holding up reasonably well,&#34; said independent analyst Ross Norman.&#34;I think the important month will be January when those figures come out because that will give the indication about the level of stocking ahead of Chinese New Year, which of course is traditionally a very strong period of time.&#34;CONTEXTIn China, bullion traded at premiums of up to $8 an ounce above the global benchmark spot price (XAU-CN-PREM) last week, up from the previous week's discount of $12 to $3 premium. China's central bank extended its gold-buying spree for a 14th month in December, data from the People's Bank of China showed earlier this month.Gold, long viewed as a safe-haven asset during times of political or economic turmoil, marched to record levels above $5,100 per ounce on Monday, as investors sought safety amid international political tensions.The yellow metal surged more than 64% last year, its steepest annual gain since 1979. The rally was driven by the U.S. Federal Reserve's interest rate cuts, geopolitical tensions and robust buying by global central banks. </div></div>

China's net gold imports via Hong Kong fell by about 24% in December compared to November, totaling 12.205 metric tons. This decline reflects the impact of elevated prices on demand, with domestic prices at a premium to international rates. Analysts suggest January's figures will be crucial for understanding stocking levels ahead of the Chinese New Year. Despite the drop, China's central bank continued its gold purchases for the 14th consecutive month, as gold prices surged over 64% last year amid geopolitical tensions and interest rate cuts.

Reuters

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China's December net gold imports via Hong Kong fall about 24% from November