The recovery rate of key gold companies is over 98%
Beijing, May 1st (Reporter Li Jie) The China Gold Association recently released data showing that since March, key gold companies (groups) have made full use of their advantages in resources, technology and management to promote the resumption of production in an orderly manner. The resumption rate increased rapidly from 80% at the end of February to more than 98%. In March, the national mineral gold production increased by 5.55% year-on-year. It is expected that from the second quarter, domestic gold production will return to normal.
According to statistics, in the first quarter, domestic raw material gold production was 82.63 tons, which was 10.14 tons lower than the same period in 2019, a year-on-year decrease of 10.93%; the actual national gold consumption was 148.63 tons, a year-on-year decrease of 48.20%.
The China Gold Association also analyzed and pointed out that due to factors such as the spread of the epidemic, commodity prices and global stock market fluctuations, there is an urgent need for capital hedging in the capital market, the gold hedging function is sought after, and the volume of gold transactions has increased significantly. In the first quarter, the cumulative trading volume of all gold varieties on the Shanghai Gold Exchange was 18,000 tons bilaterally, an increase of 24.00% year-on-year, and the bilateral trading volume was 6.40 trillion yuan, an increase of 54.08% year-on-year; the cumulative trading volume of all gold varieties on the Shanghai Futures Exchange was 20,600 tons , An increase of 62.26% year-on-year, the bilateral turnover of 7.06 trillion yuan, an increase of 94.25% year-on-year.
In the first quarter, the overall price of gold showed an upward trend. At the beginning of the year, the international gold price opened at US $ 1517.18 per ounce, and the average price in the first quarter was US $ 1585.22 per ounce, an increase of 21.58% over the same period in 2019.
Li Jie