China Gold Output Plummets 14.6% as High Prices Fuel Bar and Coin Demand

China's gold output plummeted in the first half of 2026 due to high and volatile gold prices, as well as new tax policies. The China Gold Association reported that domestic raw gold production reached 152.908 metric tons, a decline of 26.175 tons compared to the same period last year.

This represents a 14.62% year-on-year decrease. Including 77.080 tons of gold produced from imported raw materials, the nation's total gold output amounted to 229.988 tons, down 9.01% year-on-year.

In contrast, China's total gold consumption continued to grow, reaching 511.412 tons in the first half, up 1.23% year-on-year. However, the consumption structure diverged violently: gold jewelry consumption was just 132.133 tons, plummeting 33.88% year-on-year; gold bar and coin consumption soared to 339.336 tons, surging 28.42% year-on-year.