SHANGHAI :
China Used 38% Less Gold in First Half Amid Covid-19, High Prices
Dou Shicong
DATE:  Jul 28 2020
/ SOURCE:  Yicai
China Used 38% Less Gold in First Half Amid Covid-19, High Prices China Used 38% Less Gold in First Half Amid Covid-19, High Prices

(Yicai Global) July 28 -- China's gold consumption decreased in the first half of this year due to the Covid-19 pandemic and the soaring gold prices of the precious metal but the second quarter already showed signs of recovery.

First-half purchases declined by 38.3 percent to 323.3 tons from a year ago, according to the China Gold Association.

In the second quarter, consumption fell 26.2 percent from a year earlier, and the decrease was 22 percentage points smaller than between the first quarters of 2020 and 2019, as the country got a grip on the pandemic, the association added.

The country produced 170.1 tons of raw gold in the first half, down 5.9 percent. Raw gold imports slid by 12.1 percent to 47.7 tons.

Editor: Emmi Laine
 

 

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Keywords:   Gold,Covid-19