Source: People's Daily overseas version
Xinhua News Agency, Beijing, April 29th (Reporter Li Jie)-the China Gold Association recently released data: in the first quarter, the country produced a total of 139 gold.Gamedengancrypto.184 tons, with gold consumption reaching 308Gamedengancrypto.905 tons, an increase over the same period last year.
In terms of production, in the first quarter, the domestic raw material gold output was 85.959 tons, an increase of 1.16 percent over the same period last year, of which 60.191 tons of gold mineral gold and 25.768 tons of non-ferrous by-product gold were completed. In addition, imported raw materials produced 53.225 tons of gold in the first quarter, an increase of 78% over the same period last year. If you add this part of imported raw materials to produce gold, the country produced a total of 139.184 tons of gold, an increase of 21.16% over the same period last year.
"in the first quarter, the strong rise in gold prices has brought new development opportunities for gold enterprises." According to the analysis of the China Gold Association, under the circumstances of the rapid rise in gold prices and the relative stability of production and operation costs, the profit space of enterprises has increased, the willingness of gold mining enterprises to carry out geological exploration and infrastructure technological transformation has been strengthened, and gold resources have been maximized. Gold production has further increased. The rise in gold prices also prompted smelters to increase the procurement of imported gold raw materials, resulting in a substantial increase in gold production from imported raw materials. In the first quarter, the output of mine mineral gold in large gold enterprises (groups) was 32.011 tons, accounting for 53.18% of the whole country. Overseas mines of Zijin Mining, Shandong Gold and Chifeng Gold achieved an output of 16.339 tons of mineral gold, an increase of 13.50% over the same period last year.
Looking at consumption, in the first quarter, the national gold consumption was 308.905 tons, an increase of 5.94 percent over the same period last year. Of this total, gold jewelry was 183.922 tons, down 3% from the same period last year; gold bars and coins were 106.323 tons, up 26.77% from the same period last year; and industry and itsGamedengancryptoHe used 18.660 tons of gold, an increase of 3.09 percent over the same period last year. According to the analysis of the China Gold Association, the high gold price has two effects on gold consumption. On the one hand, the rapidly rising gold price superimposes factors such as gold jewelry processing fees and high brand premium, which increases consumers' wait-and-see mood, gold jewelry consumption is restrained to a certain extent, and retailers' sales pressure increases. On the other hand, due to the surge in safe-haven demand, physical gold investment has received higher attention, and consumption of gold bars and coins with relatively low premiums has risen sharply.
In the same period, the cumulative turnover of all gold varieties on the Shanghai Gold Exchange was 15300 tons bilateral (unilateral 7600 tons), an increase of 32.29 percent over the same period last year, and the bilateral turnover was 7.49 trillion yuan (3.74 trillion yuan unilateral), an increase of 54.73 percent over the same period last year. Since March, the price of gold has risen rapidly and trading volume has risen sharply from the previous month.
Since the beginning of this year, central banks have continued to increase their holdings of gold, and the price of gold has risen strongly, breaking record highs repeatedly. Au9999 gold on the Shanghai Gold Exchange closed at 527.54 yuan / g at the end of March, up 9.72% from the opening price at the beginning of the year. The weighted average price in the first quarter was 487.11 yuan / g, up 16.02% from the same period last year. First quarterGamedengancryptoChina has increased its gold holdings by 27.06 tons, and its gold reserves stood at 2262.47 tons by the end of March.