China’s 2020 domestic gold supply deficit plunges by 27%

ABSTRACT
China’s domestic gold supply deficit fell by 26.8% on year to 455.6 tonnes in 2020, reflecting last year’s decline in consumption which was notably steeper than the fall in production, Mysteel Global calculated from China Gold Association (CGA) data published on February 1.

Last year, China’s gold production from domestic raw materials dropped by 3.9% on year to 365.3 tonnes, among which 301.7 tonnes were derived from gold ore and 63.7 tonnes as the by-product of smelting non-ferrous metals, CGA data showed. As one of the world’s largest gold consuming countries, China