China's gold output, consumption grow in Jan-Sept

China's domestic gold output increased slightly by 0.47% on year to total 271.25 tonnes in the first three quarters of 2023, suggesting steady gold production across the country, according to a latest release by the China Gold Association (CGA) on October 25. Within the total, 214.87 tonnes were from gold mines and 56.38 tonnes were byproducts from nonferrous metal production, the data showed.

China also imported 96.28 tonnes of gold over January-September, with the volume jumping 11.48% on year, according to CGA data. As for gold consumption across China, the total volume increased by 7.32% on year to 835.07 tonnes in the first nine months, the CGA data found, mainly due to increasing market