China’s first-half gold consumption jumps 54pc: CGA

China’s gold consumption jumped 54 per cent in the first half of the year to 706.36 tonnes, the China Gold Association said, as lower prices of the precious metal attracted buyers.

China, which is set to overtake India as the world’s biggest gold consumer this year, consumed 832.18 tonnes in all of last year and about 460 tonnes in the first half of last year.

Output in China, the world’s biggest gold producer, reached 192.82 tonnes, up 9 per cent from a year ago, the association said in a statement on Monday.