In the First Nine Months of 2023, China’s Gold Output and Consumption Rise

In the first nine months of 2023, China’s gold production rose by 0.47% to 271.248 tonnes. Gold consumption increased by 7.32% to 835.07 tonnes, with gold jewelry consumption at 552.04 tonnes (up 5.72%) and gold bars and coins at 222.37 tonnes (up 15.98%). However, industrial gold consumption decreased by 5.53% to 60.66 tonnes. Gold-backed ETF holdings in China grew by 9.53 tonnes in the third quarter, totaling 59.69 tonnes by September’s end.