China’s gold consumption rose 16% on year in first half – industry association
COMMODITIES DATA
China’s gold consumption rose 16% on year in first half – industry association
COMMODITIES DATA

China’s gold consumption rose 16% on year in first half – industry association

 

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China consumed 554.88 tons of gold in the first half of 2023, up 16.37% from a year earlier, data from the China Gold Association showed on Tuesday.

Among the gold consumption, the purchase of gold bars jumped 30.1% to 146 tons in the first half, while that of gold jewelry reached 368 tons, up 14.8% , while consumption of gold used for industrial and other purposes declined 7.65^ to 40 tons, the data showed.

Meanwhile, China’s gold production grew 2.24% year over year to reach 179 tons in the first half, while that of raw gold imports jumped 17.5% to 65 tons, showed the data.

In 2022, China’s gold consumption shrank 10.63% to 1,002 tons.