China's gold consumption plunged in Q1 as coronavirus lockdown and rising prices hurt demand

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China’s gold consumption fell by almost half in the first quarter as the coronavirus containment measures and rising prices hurt demand in the world’s biggest gold market.

Gold consumption totalled 148.63 tonnes in the first three months, down 48.2 per cent from a year earlier, said the China Gold Association on Tuesday, with consumption of jewellery down 51.1 per cent to 92.04 tonnes and that of gold bars and coins down 47 per cent.

Gold production in China fell by 10.93 per cent from a year earlier to . . .

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