China reduced gold production, but increased its consumption

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According to the Chinese Gold Association, the total gold production in China in the first 9 months of this year decreased by 0.57% and amounted to 372 tons 827 kilograms, which was caused by more stringent environmental requirements for gold miners, many of which under their pressure closed down or reduced its production. During this period, 289 tons of 745 kilograms of gold were produced from domestic raw materials. The decline was 7.46%. 83 tons of 82 kilograms of gold were produced from imported raw materials, which is 34.24% higher than in the previous period. For the period from January to September, consumption in China amounted to 849 tons 700 kilograms. Growth was at the level of 5.08%. Jewelers increased demand by 6.94%, industrial and other consumers - by 24.68%. The demand for the manufacture of coins increased by 6.47%. At the same time, the demand for investment bars fell by 5.05%.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
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