China's gold output, consumption rise in Q1

China's gold output and consumption both saw steady growth in the first quarter of 2024, industry data showed Friday.

China produced 85.959 tonnes of gold in the first quarter, up 1.16 percent from a year earlier, according to data released by the China Gold Association (CGA).

In the first three months, gold consumption in China stood at 308.905 tonnes, up 5.94 percent year on year, CGA data showed.

Specifically, consumption of gold jewelry in the Chinese market fell 3 percent compared with the same period last year to 183.922 tonnes, while that of gold bars and coins surged 26.77 percent year on year to 106.323 tonnes.

Consumption of gold for industrial and other use gained 3.09 percent from the previous year to 18.66 tonnes from January to March.