Despite the standard prices, China's golden imports are jumped to the highest level in 11 months

Last month, China imported the largest amount of gold in about a year, despite the standard prices, after demand for precious metal increased the central bank to reduce restrictions on the flow of alloys. Gold imports to China reached 127.5 tonnes, the highest level in 11 months, according to the customs data released on Tuesday. This represents a 73% leap compared to a monthly basis, although gold prices have recorded consecutive levels, as once $ 3500 per ounce has affected. The increase in imports is likely to return to the Chinese People’s Bank that granted new shares to some commercial banks in April, in response to a strong demand by individual and institutions, in the light of the increase in the trade war. The central bank controls the actual gold flow in the country as it usually only gives imports and shares permits for a limited number of selected banks. Investors in China went to gold as a hedging tool against escalating geopolitical uncertainty, which contributed to the sharp rise in metal prices earlier this year. Despite the decline in gold in May, amid the hope of the calm of commercial tension, the continuation of central banks is to diversify reserves away from rooted assets in the dollar that will support in the future.