China's gold consumption recovers strongly in Q3

Source: Xinhua| 2020-11-07 22:15:19|Editor: huaxia

BEIJING, Nov. 7 (Xinhua) -- China's gold consumption recovered strongly during the third quarter due to a stabilizing domestic economy and booming demand from the wedding market.

Gold consumption reached 224.8 tonnes from July to September, up 28.71 percent quarter on quarter, according to the China Gold Association.

During the same period, consumption of gold coins and bars surged 66.73 percent quarter on quarter to 65.54 tonnes.

China's economic rebound and the wedding market's swift recovery from the COVID-19 shocks bolstered the surge in gold consumption, analysts said.

Gold output reached 92.86 tonnes in the third quarter, almost unchanged from the same period a year ago. Enditem