China gold consumption, output rises in first half of 2013

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China’s gold consumption reached 706.36 tons in the first six months of 2013, a year-on-year rise of 53.7 percent of 246.78 tons, according to statistics released by China Gold Association on August 12.

A total 383.86 tons of gold were used for jewelry and 278.81 tons made into gold bars, a year-on-year increase of 43.6 percent and 86.5 percent respectively, while 24.03 tons went to industrial uses, a drop of 1.6 percent year on year. A total 8.79 tons gold were consumed in other fields, which saw a collective 14.9 percent increase.

The statistics also showed that China’s gold production reached 192.82 tons in the first half year of 2013, an increase of 8.94 percent or 15.83 tons year on year. Gold mine production achieved 159.26 tons, with gold recovered as a by-product from the smelting of other ores reached 33.56 tons, a year-on-year increase of 8.87 percent and 9.27 percent respectively.

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