Importing gold into China has just got more difficult; you can thank concern over capital outflow for that.
FT say:
- China has curbed gold import
- Part of government attempts to clamp down on capital leaving the country, according to traders and bankers
- Quotas for importing gold have been cut during quarterly assessments this year
- Banks also have dollar quotas, some of which must be used when buying gold
More detail at the Financial Times, which may be gated: China tightens gold import quotas to ease dollar outflow