According to the latest statistics of the China Gold Association, in the first three quarters, the domestic raw material gold output was 236.75 tons, a decrease of 26.18 tons compared with the same period in 2020, a decrease of 9.96 percent over the same period last year, of which 193.61 tons of gold mineral gold and 43.14 tons of non-ferrous by-product gold were completed. In addition, in the first three quarters, imported raw materials produced 78.73 tons of gold, an increase of 5.56% over the same period last year. If this part of imported raw materials is added to produce gold, the country produced a total of 315.48 tons of gold, down 6.53% from the same period last year.
In 2021, Neifei coal mines in Shandong Province began to stop production in February, carried out safety inspections, comprehensively investigated the hidden dangers of safety, and implemented rectification measures, which temporarily affected the output of Shandong, the largest gold-producing province. Under the background of the country's construction of a dual-cycle development pattern, large gold enterprises (groups) give full play to the advantages of overseas high-quality mine resources and strive to increase production. In the first three quarters, overseas mines such as Zijin Mining, Shandong Gold, Chifeng Gold and Lingbao achieved an output of 26.90 tons of mineral gold, an increase of 30.64% over the same period last year. In order to respond positively to the national "double carbon" goal, China Gold, Zijin Mining, Shandong Gold and Shandong Zhaojin will also consider the risks and opportunities of climate change in the enterprise development strategy on the premise of following the principle of responsible gold mining. practice the concept of green development.
In the first three quarters, China's actual gold consumption was 813.59 tons, an increase of 48.44 percent over the same period in 2020 and 5.89 percent over the same period in 2019 before the epidemic. Of these, gold jewelry is 529.06 tons, up 54.21 percent over the same period in 2020, up 1.11 percent over the same period in 2019; gold bars and coins are 214.13 tons, up 50.25 percent over the same period in 2020 and 29.11 percent over the same period in 2019; and gold for industrial and other uses is 70.40 tons, up 12.66 percent from the same period last year. Since the third quarter, domestic gold consumption as a whole continued to recover in the first half of the year, achieving relatively rapid growth. Driven by the policy of promoting consumption and the consumption of Qixi Festival and the Mid-Autumn Festival, the recovery of gold jewelry consumption is rapid, and the performance of ancient gold jewelry is still eye-catching. After the approval of IPO in July this year, Caibai shares, which has the title of "the first gold in China", officially landed on the A-share market on September 9. In the third quarter, the volatility of gold prices slowed down as a whole, and the sales of gold bars and coins remained robust, significantly higher than the pre-epidemic level.
In the first three quarters, with the overall slowdown of the global epidemic and the recovery of the global economy, gold prices fluctuated back. Spot gold traded at $1742.80 an ounce in London at the end of September, down 10.31 per cent from the start of the year. Au9999 gold on the Shanghai Gold Exchange opened at 397.48 yuan / gram and closed at 362.14 yuan / gram at the end of September, down 8.89 percent from the beginning of the year. The weighted average price in the first three quarters was 375.14 yuan / gram.
In the first three quarters, the cumulative turnover of all gold varieties on the Shanghai Gold Exchange was 26300 tons bilateral (unilateral 13100 tons), down 46.86 percent from the same period last year, and the bilateral turnover was 9.9 trillion yuan (4.95 trillion yuan unilateral), down 47.73 percent from the same period last year. The cumulative turnover of all gold varieties in the Shanghai Futures Exchange was 72600 tons bilateral (unilateral 36300 tons), down 12.22% from the same period last year, and the bilateral turnover was 25.62 trillion yuan (12.81 trillion yuan unilateral), down 18.56% from the same period last year. In the first three quarters, domestic gold ETF holdings increased by 11.04t. By the end of September, domestic gold ETF holdings were about 71.95t.
