China’s H1 gold consumption soars 69% to 547 tonnes

ABSTRACT
China’s gold consumption for all uses swelled by 69.2% on year to 547.05 tonnes over January-June, mainly supported by fast recovering demand for gold for jewellery, and from the gold bar and coin sectors, according to the quarterly report by the China Gold Association (CGA) on August 3. The country’s gold demand had been seriously hampered during H1 last year because of the outbreak of COVID-19.

For the April-June quarter, China’s gold jewellery sales continued to recover, driven by the consumption uptick associated with festivals including the Tomb Sweeping Day in April, the Labour Day holidays in May and the Dragon Boat Festival in June, according to the report. Sales of gold jewellery incorporating ancient