China snatching up gold at lower prices

October was China's second highest month for gold imports, according to Hong Kong customs data.

With the price of gold cratering this fall, China imported 148 tons in October, the second highest recorded level. In March 2013 China imported 224 tons.

The numbers are not the full window into Chinese demand. Gold may be imported from other countries, and China is the world's largest gold producer.

October marked China's 26-consecutive month of being a net gold importer.

"At least someone is grateful for plunging gold prices," writes Zero Hedge.

chinese gold imports hong kong

Table from Zero Hedge. Click to enlarge.

Image of $10 Macro Taiwanese coin by Eli Christman