New | Mainland China imports less gold from Hong Kong as prices fall

Mainland China's gold imports from Hong Kong fell last month to their lowest in six months as purchases slowed in the world's second-biggest gold consumer amid weaker prices.

Net gold imports from Hong Kong dropped to 67.58 tonnes from 76.12 tonnes in January and 112.31 tonnes a year ago, according to data from the Hong Kong Census and Statistics Department.

The imports were the lowest for a month since August last year.

Jewellery demand typically rises before the Lunar New Year, which fell in the middle of last month, as gold is bought widely for gift-giving. It then eases after the holiday.

The slide last month suggested consumers were cautious given weakening gold prices.

Prices of the metal fell more than 5 per cent last month, their biggest monthly drop since September last year, on concerns that the United States Federal Reserve could increase interest rates as early as June.