China News Service, Beijing, July 28 (Reporter Liu Yuying) According to a report released by the China Gold Association on the 28th, China's gold production in the first half of 2020 was 170.07 tons and gold consumption was 323.29 tons, down 5.87% and 38.25% respectively year-on-year.
Data map: People buy gold jewelry in shopping malls. Photo by Wei Liang issued by China News Agency
According to the latest statistics from the China Gold Association, in the first half of 2020, domestic raw material gold production was 170.07 tons, a decrease of 10.61 tons compared with the same period in 2019, a year-on-year decrease of 5.87%.
At the beginning of 2020, the entire industry was affected by the new crown pneumonia epidemic, and the cumulative gold production nationwide fell sharply from the previous year. However, starting from the second quarter, as the domestic epidemic eased, the rate of resumption of production and production increased rapidly, and the international gold price rose rapidly , The domestic gold production fully returned to normal. In the second quarter, domestic gold production increased by 5.81% month-on-month.
In the first half of 2020, the national actual consumption of gold was 323.29 tons, a decrease of 38.25% compared with the same period in 2019. Among them: 207.87 tons of gold jewelry, a year-on-year decrease of 42.06%; 76.98 tons of gold bars and gold coins, a year-on-year decrease of 32.12%; industrial and other 38.44 tons, a year-on-year decrease of 25.16%.
Analysis believes that due to multiple factors such as epidemic prevention and control, slowing economic growth and rising gold prices, gold consumption has experienced a significant decline in the first half of the year.
After entering the second quarter, with the continuous improvement of the domestic epidemic prevention and control situation and the implementation of various consumption promotion policies, gold consumption continued to rise, and the year-on-year decline in gold consumption in the second quarter narrowed by 22 percentage points compared with the first quarter.
Although the overall consumption of gold in the first half of the year was unsatisfactory, the performance of gold bullion coins was still remarkable, and the sales volume of gold bullion coins only slightly declined in the second quarter.
In addition, with the rise in gold prices and continued high-level operations, some investors chose to repurchase to realize profitability after seeing the profit space, and the gold repurchase business became increasingly popular. The volume of gold repurchases in the first half of the year increased by 162.88% year-on-year. Due to the epidemic prevention and control and the booming offline repurchase business, the volume of gold online repurchase business has also increased significantly. (Finish)