Gold imports into Hong Kong eased to approximately 107 tonnes in July 2026, marking an 18% decline from June, which had seen a decade-high inventory build-up ahead of the city’s gold clearing and settlement system trial launch on July 7. The value of these shipments dropped to HK$114.71 billion (US$14.63 billion) from HK$142.02 billion, according to data released by Hong Kong’s Census and Statistics Department.

Ming Lam, councillor of the Greater China Division of CPA Australia, noted that “import demand related to stocking has started to stabilise since the gold inventory build-up was largely completed in June,” adding that investors and traders might rebalance their portfolios, including gold holdings.

Despite the monthly decrease, demand remains robust compared to February 2026, when imports stood at just 72.16 tonnes. This sustained interest coincides with mainland banks and logistics firms investing in physical storage capacity in Hong Kong. SF Express, China’s largest courier, is establishing a gold vault in Tsing Yi, while the Industrial and Commercial Bank of China is also developing a precious-metals storage facility.

These moves reflect confidence in Hong Kong’s strategic ambition to establish itself as Asia’s premier hub for gold.

Sources