While China’s gold production increased by 13 percent, there was a decrease in consumption – WORLD
While China’s gold production rose 13 percent, consumption fellAccording to data released by the China Gold Association (CGA), the country’s gold production reached 372,000 tons in 2022, up 13 percent.According to data released by the China Gold Association (CGA), the country’s gold production reached 372,000 tons in 2022, up 13 percent. Despite the increase in gold production, there is a decrease in consumption figures. Gold consumption decreased by 10.63 percent compared to the previous year and amounted to 1,001.74 tons.
In 2022, gold prices maintained their high levels in the global market due to factors such as the geopolitical crisis, the COVID-19 epidemic, the slowdown in the global economy and rising inflation.
CGA data showed that the average annual price of Au9999 refined fine gold on the Shanghai Gold Exchange reached 390.58 yuan per gram, up 4.53 percent year on year.
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