China’s gold consumption down 3.27 pct in H1

BEIJING, Aug 2 (XINHUA/APP):China’s gold consumption in the first half of the year dropped 3.27 percent year on year to 523.54 tonnes, industry data showed Friday.

Consumption of gold jewelry in the first six months stood at 358.77 tonnes, edging up 1.97 percent from the same period last year, while purchase of gold bars was 110.51 tonnes and gold coins 2.9 tonnes, down 17.29 percent and 29.27 percent, respectively, according to the China Gold Association.

Gold consumption for industrial and other uses in China dipped 0.6 percent year on year to 51.36 tonnes during the same period.

China’s H1 gold output saw a year-on-year decrease of 5.05 percent to 180.68 tonnes. East China’s Shandong Province boasted the largest mineral gold production in the period, followed by Henan, Yunan, Inner Mongolia Autonomous Region and Gansu, the association said.

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