You are here
China's gold consumption reaches 555 tons in first half of 2023, up 16.4%
From Global Times, Beijing
Tuesday, July 25, 2023
China consumed 554.88 tons of gold in the first half of 2023, up 16.37% year-on-year, data from the China Gold Association showed today, as Chinese citizens' income continues to rise steadily.
The "gold rush" is partly fueled by the investors' growing risk aversion in buying equities and bonds, over concerns about volatile global financial environment, which is exacerbated by the U.S. bank financial crisis and the U.S. debt ceiling issue.
... Dispatch continues below ...
.... ADVERTISEMENT ....
Buy metals at GoldMoney and enjoy international storage
GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry.
GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars.
To learn more, please visit:
http://www.goldmoney.com/?gmrefcode=gata
Among gold consumption, the purchase of gold bars jumped 30.12% year-on-year to 146 tons in the first six months, while that of gold jewelry reached 368 tons, up 14.82% from the same period last year. Gold used for industrial and other purposes declined 7.65% to 40 tons, the data showed.
"With the normalization and revival of the economy, China's gold consumption shows an overall momentum of rapid recovery," a statement on the website of the CGA said. Consumption of gold, silver, and jewelry led the gains of individual retail category in the first half this year, which continues to make contribution to fueling the economy, the statement noted. ...
... For the remainder of the report:
https://www.globaltimes.cn/page/202307/1295007.shtml
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, November 1-4, 2023
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
