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Ministry of Industry and Information Technology: domestic gold prices continue to rise in the first quarter and the gold market is active.
Jul 31,2020 14:50CST
translation
The content below was translated by Tencent automatically for reference.

SMM: according to the latest statistics of the China Gold Association, in the first half of 2020, China's gold production and consumption declined compared with the same period last year, the domestic gold price continued to rise in the first quarter, and the gold market was active.

First, production dropped compared with the same period last year. From January to June 2020, China produced a total of 217.8 tons of gold, down 7.3 percent from the same period last year. Of this total, 170.1 tons of gold were produced from domestic raw materials, down 5.9 percent from the same period last year, including 141.8 tons of domestic gold mineral gold and 28.3 tons of domestic non-ferrous by-product gold, and 47.7 tons of gold from imported raw materials, down 12 percent from the same period last year.

Second, consumption decreased compared with the same period last year. From January to June 2020, the actual consumption of gold in the country was 323.3 tons, down 38.2 percent from the same period last year. Of this total, consumption of gold jewelry was 207.9 tons, down 42.1 percent from the same period last year; consumption of gold bars and coins was 77 tons, down 32.1 percent from the same period last year; and consumption in industrial and other sectors was 38.4 tons, down 25.2 percent from the same period last year.

Third, the domestic gold price has increased compared with the same period last year. From January to June 2020, the average international spot price of gold was 1645.4 US dollars per ounce, an increase of 25.9% over the same period last year, while the average domestic spot price of gold was 369.1 yuan / g, an increase of 28.3% over the same period last year. From January to June, gold mining and smelting realized profits of 5.18 billion yuan and 4.36 billion yuan, up 48% and 60.3% respectively over the same period last year.

Fourth, the gold market is active. From January to June 2020, the cumulative turnover of all gold varieties on the Shanghai Futures Exchange was 43000 tons (bilateral), an increase of 42.5 percent over the same period last year, with a turnover of 15.4 trillion yuan, an increase of 74.2 percent. The cumulative turnover of all gold varieties on the Shanghai Gold Exchange was 33800 tons (bilateral), an increase of 13.3 percent over the same period last year, with a turnover of 12.43 trillion yuan, an increase of 44 percent over the same period last year.

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