According to data announced by the Gold Association, China's gold production and consumption increased in the first quarter of 2024.
The figures announced by the Association show that 1,16 thousand 85 tons of gold were produced in China in the first quarter of the year, an increase of 959 percent compared to the previous year. On the other hand, 5,94 thousand 308 tons of gold were consumed in the country during the same period, an increase of 905 percent on a yearly basis.
When the Chinese gold market is examined in more detail, it is seen that the consumption of gold converted into jewelery decreased by 3 percent compared to last year, reaching 183 thousand 922 tons, while the consumption of gold as money and bullion increased by 26,77 percent on a yearly basis, reaching 106 thousand 323 tons. On the other hand, the use of gold for industrial purposes in the January-March period increased by 3,09 percent compared to the same period of the previous year, reaching 18,66 tons.