China's gold consumption surges Find out why here - preciousmetals
According to CGA data, the country produced nearly 178.6 tonnes of gold during the first six months of the year, representing a year-over-year increase of 2.24 percent, while raw gold imports jumped 17.5 percent to total 65 tons.
Breaking down the headline number, consumption of gold jewelry in China reached 368.26 tonnes, up 14.82 percent from a year earlier, while demand for gold coins and bars increased by 30.12 percent to 146.31 tonnes from January to June. “This is the eighth consecutive month of buying, totaling 165 tonnes,” Gopaul said. “Total gold reserves now amount to 2,113 tonnes.”
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