China 2024-04-15T05:13:50+03:00
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China's gold output up 14.04 pct in Jan-Sept

China's gold output up 14.04 pct in Jan-Sept

gold, economics, China, statistics, PRC
China's gold output. Photo by Xinhua.
China's gold output. Photo by Xinhua.

China produced 269.987 tonnes of gold in the first nine months of this year, an increase of 33.235 tonnes or 14.04% from the same period last year, industry data showed. This was reported by The Xinhua News Agency.

During the first three quarters, gold consumption in the Chinese market declined by 4.36% year on year to 778.09 tonnes, data from the China Gold Association showed.

According to the association, the consumption of gold jewelry in China stood at 522.15 tonnes, down 1.31% year on year, while that of gold coins and bars shrank by 10.46 percent to 191.73 tonnes in the first three quarters.

During the same period, gold consumption for industrial and other uses came in at 64.21 tonnes, down 8.79% from last year.

Data also showed that holdings of gold-backed exchange-traded funds (ETFs) in China decreased 17.32 tonnes in the first nine months. By the end of September, total holdings of gold ETFs in the Chinese market were about 57.97 tonnes.

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