China's Gold Consumption Rises Amid Sluggish Jewelry Sales
China's gold consumption rose by 1.23% in the first half of this year, according to data from the China Gold Association (CGA). The country consumed a total of 511.41 tonnes of gold during the six-month period, compared to 505.21 tonnes in H1 2025.
The CGA noted that strong investment demand offset sluggish jewelry sales, which plummeted 33.88% year-over-year to 132.13 tonnes due to soaring retail prices. On the other hand, burgeoning investment demand saw gold bars and coins consumption increase by 28.42% to 339.34 tonnes.
The association attributed the decline in industrial and other gold uses to persistently high gold prices, which have pushed up production costs for enterprises. This led to a 2.9% decrease in industrial gold uses, which totaled 39.94 tonnes for the first six months of this year.
China's gold output from domestic raw materials dropped by 14.62% year-over-year to 152.91 tonnes due to comprehensive safety inspections and environmental governance campaigns in key gold-producing provinces. However, gold produced from imported raw materials rose 4.62% or 3.40 tonnes to 77.08 tonnes.