Gold price opens higher in HK Chinese imports drop

HONG KONG, June 26 (Xinhua): The gold price in Hong Kong went up 60 HK dollars to open at 12,220 HK dollars per tael on Thursday, according to the Chinese Gold and Silver Exchange Society.
The price is equivalent to US$1,321.87 a troy ounce, up $6.49 at the latest exchange rate of $1.0 against 7.761 HK dollars.
Another Reuters report from Singapore adds: China's gold imports from Hong Kong dropped in May to the lowest level since January last year as a weaker yuan curbed appetite for the precious metal in the world's largest consumer.
Hong Kong has been the main conduit for gold into China, but imports into the mainland have been increasingly shipped directly to Shanghai and Beijing.