(Yicai Global) Sept. 17 – China was the biggest producer of gold worldwide last year for a 13th year in a row.
The country produced 380.226 tons of the precious metal in the 12 months ended Dec. 31, broadcaster CCTV reported today, citing data from the World Gold Council and China Gold Association. Output fell 5.2 percent from 2018.
China consumed around 1,003 tons in the period, ranking it first in the world for seven years running despite a 12.9 percent decline on the previous year.
Global investor demand for gold has surged this year, driven by its appeal as a safe haven asset. Prices broke through the USD2,000 per ounce level early last month.
Editor: Ben Armour