Decreased consumption of gold in China increased by almost 20% during the first half of the current year ending march consumption growth recorded by the gold in the last year.
According to the Federation of Chinese Gold, said in a statement on Thursday, the Chinese consumed during the first half of this year, 569.45 tons of gold, where gold jewelery consumption rose at rates of 11%, while the decline in the consumption of bullion rose 62% during the first half of this year.
The statement added that gold production in the country during the first half of this year amounted to 211 tons, an increase of 9% from the same period last year.
It was China’s consumption of gold has increased last year by 41.36% to 1176.4 tonnes thanks to growing demand for gold jewelry and bullion .. During the second quarter of last year dropped the price of the World Gold to about $ 1,400 per ounce compared to $ 1,600 by the fall, which encouraged the Chinese to buy heavily.
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