October 1, 2026
China’s Gold Inflows Accelerate in 2026
China’s gold import pace has strengthened markedly this year, putting the country on course to bring in around 1,700 tonnes in 2026. That run-rate is roughly double last year’s level and would set the high-water mark for the decade to date.
Customs data for August show 142 tonnes imported in the month, taking the first eight months of 2026 to 1,141 tonnes. That total stands 72% above the 663 tonnes recorded over the same period a year earlier and has already surpassed full-year 2025 volumes. The figures underline robust wholesale demand and continued drawdown of bullion from international trading hubs into the domestic Chinese market.
The scale and timing of shipments matter for price formation and liquidity. Higher, steadier imports typically reflect persistent end-user and investment demand inside China, with refiners and distributors sourcing metal to meet retail and institutional requirements. While imports are only one component of the country’s gold balance alongside mine output and recycling, the year-to-date trajectory signals a strong physical bid shaping global bullion flows in 2026.
Silver Approaches a Technical Inflection
Silver prices are nearing the $60 per ounce area, a zone widely watched by market participants as a potential near-term inflection point. Behaviour around such round-number levels can be important for momentum, with the market gauging whether recent strength consolidates or extends.
Participation and liquidity as the level is tested will be key. The depth of buying and selling interest around $60, and the speed of any acceptance or rejection of that area, will help define the next phase for the metal’s trading range without pre-judging direction. For now, attention is centred on how spot and near-dated futures navigate this threshold.
With China absorbing significant volumes of physical gold and silver testing a prominent price zone, the interplay between physical flows and technical landmarks remains in focus. For holders of fully allocated bullion, these dynamics are directly reflected in bar inventories held in vaults rather than through derivatives exposure.
