In 2025, our country's net gold imports will reach 675 tons, a 41% decrease year-on-year.

NightAirdropper · 2026-02-14T10:03:54+00:00

In 2025, China's net gold imports are expected to be 675 tons, a decrease of 41% compared to 2024. Weak demand for gold jewelry and domestic gold prices remaining below international market levels have suppressed imports. In December, net imports were 29 tons, a significant month-on-month decrease, indicating that insufficient consumer momentum is impacting the supply chain.

NightAirdropper

2026-02-14 10:03:54

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According to the World Gold Council, China’s net gold imports in 2025 were weak, totaling 675 tons for the year, a 41% decrease compared to 2024. The main driving factors were the persistent sluggish demand for gold jewelry and the long-term domestic gold price discount (spread) relative to international prices, which suppressed import motivation. These factors intertwined and intensified the pressure.

On a monthly basis, December’s net gold imports were 29 tons, down 18 tons month-on-month and 55 tons year-on-year. During that month, gold jewelry demand was weak, coupled with most of the time domestic gold prices below international markets, leading to pressure on importers and a significant contraction in import volume.

Analysis indicates that weak demand for gold jewelry is the core reason behind the gold price discount and the decline in imports. The annual trend reflects the ongoing impact of insufficient consumer momentum on the gold supply chain.

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