Gold receives a serious blow after a decline and China’s imports of gold by 15%


Gold prices dropped by 1.12% at 12:00 GMT  registered levels of trading at  1,686.60 USD/Troy an ounce, and that after the decline in China’s imports of gold by 15% during January, recording levels of 32.948 kg of gold and this reflects the low levels of demand for gold During New Year’s Day.

China imported 427,877 kg of gold during the past year 2011, making China the strongest economy in a global appetite demand for yellow metal, and it must be noted that the People’s Bank of China’s purchases of gold as a reserve has recorded the highest historical levels in 40 years.

Trading price of gold is currently $ 1,686.60 on the levels of an ounce and recorded a high of $ 1,709.01 and a low of $ 1,682.85 compared to 1,706.12 at the opening price of $.