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Investing.com -- China’s gold consumption experienced a decline in the first quarter of 2025, as per the China Gold Association’s Monday report.
The year-on-year consumption fell by 5.96% to 290.492 tons, largely due to persistently high gold prices dampening the demand for gold jewelry.
The elevated gold prices have prompted a noticeable change in consumer habits. Traditional gold products like gold ornaments and jewelry are losing favor, while gold bars and coins are becoming a more popular investment option.
During the first quarter, the consumption of gold jewelry plunged 26.85% year-on-year to 134.531 tons. In contrast, the consumption for gold bars and coins saw a significant increase of 29.81% to 138.018 tons. This surge is largely attributed to investors opting for safe-haven assets in the face of geopolitical uncertainty and economic volatility.
The report also highlighted a rise in China’s domestic gold production in the first quarter of 2025. The year-on-year production increased by 1.49% to 87.243 tons.
When including gold produced from imported materials, which amounted to 53.587 tons, China’s total gold output for the quarter reached 140.830 tons. This marked a 1.18% increase from the same period a year earlier.
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