Chinese gold imports have surged past 1,000 tons through August 2026, surpassing the total imported in all of 2025, according to customs data dating back to 2017. The sharp increase is attributed to a slump in international prices and a firmer yuan, which have made imports more attractive.

Strong investment demand has kept onshore gold prices at a slight premium to global benchmarks, enticing further imports, said Zijie Wu, an analyst at Jinrui Futures Co. The premium reflects robust appetite from Chinese investors seeking safe-haven assets amid economic uncertainty.

The data underscores China’s continued appetite for gold as both an investment vehicle and a store of value. With prices supported by domestic demand, import volumes are expected to remain elevated in the near term.

Analysts will monitor whether this trend sustains through the remainder of the year, particularly as global price movements and currency fluctuations influence import decisions.