According to the latest data released by the China Gold Association on July 25, in the first half of 2023, my country's gold production and consumption have achieved steady growth.
According to the latest data from the China Gold Association, from January to June 2023, my country's gold output will be 178.598 tons, an increase of 3.911 tons compared with the same period in 2022, a year-on-year increase of 2.24%.
In the first half of 2023, the overall national gold consumption showed a steady growth trend. In the first half of 2023, the national gold consumption was 554.88 tons, a year-on-year increase of 16.37%. Among them, 368.26 tons of gold jewelry, a year-on-year increase of 14.82%. Judging from the product categories of gold jewelry consumption, consumers are more inclined to buy light and heavy products. At the same time, consumers are increasingly inclined to buy accessories with a more contemporary flavor.
In the first half of 2023, due to the influence of geopolitical and other factors, the international gold price also hit a record high. In early May, the international gold price reached as high as US$2,081 per ounce, and the demand for gold as a safe haven was fully released. In the first half of the year, gold investment demand also increased significantly, with gold bars and coins reaching 146.31 tons, a year-on-year increase of 30.12%.
In the first half of 2023, the cumulative trading volume of all gold varieties on the Shanghai Gold Exchange was 21,300 tons, a year-on-year increase of 10.55%. The cumulative trading volume of all gold varieties on the Shanghai Futures Exchange was 59,500 tons, a year-on-year increase of 34.02%.