The recent price action in gold and silver has been frustrating for some people. Both precious metals logged gains last year, but continue to remain in consolidation mode. On the positive though, bullion demand is still providing support to prices.
Due to the vulnerabilities of the global financial
system and numerous quantitative easing programs, several nations are increasing their gold holdings. According to Bloomberg and data from the Census and Statistics Department of the Hong Kong government, gold imports into mainland China from Hong Kong nearly doubled to an all-time high last year. China, the world’s second-largest economy and the biggest gold consumer, imported a record 834,502 kilograms (834.5 metric tons), including scrap and coins, in 2012. In comparison, the nation only imported 431,215 (431.2 metric tons) kilograms the previous year.
Chinese imports in December increased to a fresh monthly record of 114,405 kilograms, compared to 90,764 kilograms in November and 38,650 kilograms in the same period a year earlier. It should also be noted that the imports only represent private demand and does not account
for official sector Chinese purchases.
Central banks are still interested in gold.
Copyright Wall St. Cheat Street. All rights reserved.



![Helen Mirren: Dying Boy, Oliver Burton, Gets His Last Wish Thanks To Actress Dressed As Queen Elizabeth [PHOTOS] Helen Mirren: Dying Boy, Oliver Burton, Gets His Last Wish Thanks To Actress Dressed As Queen Elizabeth [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_multimedia/public/2013/05/22/helen-mirren-visits-dying-boy_1.jpg)


![Oklahoma Tornado 2013: Photos And Footage Of The Twister's Devastation [PICTURES, VIDEO] Oklahoma Tornado 2013: Photos And Footage Of The Twister's Devastation [PICTURES, VIDEO]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_multimedia/public/2013/05/20/oklahoma-tornado_1.png)

![Billboard Music Awards 2013: All The Fashion On The Billboards Red (Er, Blue) Carpet [PHOTOS] Billboard Music Awards 2013: All The Fashion On The Billboards Red (Er, Blue) Carpet [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_medium/public/2013/05/20/keha-givenchy.jpg)














![5 Incredible Future Campuses For The World's Tech Giants [PHOTOS] 5 Incredible Future Campuses For The World's Tech Giants [PHOTOS]](http://s1.ibtimes.com/sites/www.ibtimes.com/files/styles/v2_small/public/2013/05/22/amazons-biodome_0.jpg)






Like or Follow us for updates on the biggest stories!