Japan turns net importer of gold in Dec, 1st time since July 2010

TOKYO, Jan 30 (Reuters): Japan imported more gold than it shipped overseas in December, the first time the country has been a net importer on a monthly basis since July 2010, customs data showed on Thursday.
Imports totaled 3,429 kilograms (kg) in December, while the country exported 1,544 kg, leaving it with net purchases of 1,885 kg, according to the customs data released by the Ministry of Finance.
It was only the tenth time that Japan has been a net monthly buyer of gold since the end of 2005, the last year the country was a net importer on an annual basis.
It is likely to be a one-off event and was probably related to a Tokyo Commodity Exchange futures contract delivery, said a trader at a bank.
It was unlikely the turn to net imports was because of increased buying before a sales tax increase that's due at the end of March, the trader added.