China tops world's gold consumers for 6th year

[beijingwalker]

China tops world's gold consumers for 6th year
Source: Xinhua| 2019-01-31 18:11:59

BEIJING, Jan. 31 (Xinhua) -- China's gold consumption rose 5.73 percent year on year to 1,151.43 tonnes in 2018 on the back of strong domestic demand, making the country the world's biggest gold consumer for the sixth straight year, industry data showed Thursday.

Consumption of gold jewelry went up 5.71 percent to 736.29 tonnes, while that for gold bars rose 3.19 percent to 285.2 tonnes, said the China Gold Association.

Consumption for industrial and other uses surged 17.48 percent to 105.94 tonnes.

Last year, China's gold output went down 5.87 percent to 401.12 tonnes, but it still retained its position as the world's biggest producer for the 12th consecutive year.

China adopted new rules in 2016 to raise environmental requirements on solid waste from gold prospecting, leading to a wave of gold mine closures and output declines in the major producing provinces, including Shandong, Jiangxi and Hunan.

http://www.xinhuanet.com/english/2019-01/31/c_137789866.htm

 

[beijingwalker]

The world biggest gold producer and consumer.

 

[zectech]

Last year, China's gold output went down 5.87 percent to 401.12 tonnes, but it still retained its position as the world's biggest producer for the 12th consecutive year.

Better to sit on the Chinese reserves and import the cheap gold from all the idiots selling gold at 1100 euros per ounce. No offense, but gold is very finite and rare and money for ages, unlike toilet paper money of the dollar and cryptos.

So China, please import more gold, buy all the South African gold and continental Australian gold. Buy the Russian and Peruvian too.

 

[oprih]

Stop exporting it to hostile countries like america and their european poodles.