China’s imports of gold from Hong Kong slumped to the smallest since 2011 in January after surging to the highest level in more than two years in December, as global prices climbed the most in a year.

Net purchases by the world’s largest consumer fell to 17.6 metric tons from 111.3 tons in December and 71.6 tons in the same month last year, according to data from the Hong Kong Census and Statistics Department compiled by Bloomberg. The mainland bought 37.4 tons, including scrap, while shipments to Hong Kong were 19.8 tons. Mainland China doesn’t publish the data.