[China's gold production and consumption increased year-on-year in the

Published: Apr 26, 2024 10:25

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[China's gold production and consumption increased year-on-year in the first quarter] The China Gold Association released data on the 26th, showing that in the first quarter of 2024, China's domestic raw gold production was 85.959 tons, an increase of 1.16% year-on-year. Against the backdrop of strong gold price hikes, gold mining companies have strengthened their willingness to conduct geological exploration and infrastructure reform, and gold production has maintained growth. Gold consumption reached 308.905 tons, an increase of 5.94% year-on-year. Among them, gold jewelry consumption was 183.922 tons, a decrease of 3.00% year-on-year, while gold bars and coins consumption was 106.323 tons, an increase of 26.77% year-on-year, and industrial and other gold consumption was 18.660 tons, an increase of 3.09% year-on-year. High gold prices have suppressed gold jewelry consumption but promoted the consumption of gold bars and coins with relatively low premiums.

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