Hong Kong gold exports to China slump 44pc in April on quota backlog

Gold exports from Hong Kong to the mainland slumped in April from a record in March as banks failed to get quotas fast enough to meet surging demand from buyers as prices fell to bear-market levels.

Mainland buyers bought 126,135kg, including scrap, compared with 223,519kg in March, according to Hong Kong government data released yesterday.

Net imports, after deducting flows from the mainland into Hong Kong, dropped to 75,891kg from 130,038kg a month earlier.

via Business feed http://www.scmp.com/business/commodities/article/1254417/hong-kong-gold-exports-china-slump-44pc-april-quota-backlog