China's gold consumption in the first quarter was 260.26 tons, down nearly 10% year-on-year

　　Zhongxin Finance, April 27 (Reporter Liu Yuying) According to data released by the China Gold Association on the 27th, in the first quarter of 2022, the actual consumption of gold in the country was 260.26 tons, a decrease of nearly 10% compared with the same period in 2021, a decrease of 9.69 tons. %.

　　Among them, gold jewelry was 168.86 tons, down 0.19% year-on-year; gold bars and coins were 69.62 tons, down 27.71% year-on-year; industrial and other gold was 21.78 tons, down 4.10% year-on-year.

　　Benefiting from the release of consumer demand and the shopping boom of the Spring Festival, Lantern Festival and Valentine's Day, the consumption of gold jewelry remained strong from January to February. Affected by the big impact, the overall consumption in the first quarter was pulled down.

　　In the first quarter of 2022, affected by the escalation of geopolitical tensions and the widespread spread of the new coronavirus variant strains around the world, the complexity and uncertainty of the domestic and foreign environments have increased, the global economic development has slowed down, and inflation has intensified. The world monetary system has been impacted, which further highlights the traditional currency properties of gold, especially the function of hedging and value preservation.

　　In the first quarter, the price of gold fluctuated and soared, approaching the highest level in history.

At the end of March, the spot gold price in London was $1,942.15 per ounce, up 7.22% from the beginning of the year.

Shanghai Gold Exchange Au9999 gold opened at 373.00 yuan per gram (RMB, the same below), and closed at 394.00 yuan per gram at the end of March, up 5.63% from the beginning of the year. The weighted average price in the first quarter was 382.17 yuan per gram, compared with the same period last year. rose 1.65%.

　　According to the China Gold Association, the volatile global political and economic situation has supported the demand for gold investment. Some large gold retailers and commercial banks have maintained a certain growth in gold bar sales. However, the high gold price has aggravated the wait-and-see mood of private investors. Inventory volumes fell sharply, resulting in an overall decline in gold bar sales.

Driven by the hot sales of commemorative coins for the Beijing Winter Olympics and the New Year's Eve, the consumption of gold coins has increased compared with the same period of the previous year.

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