BEIJING, March 11 (Xinhua) -- China's gold consumption declined 12.9 percent year on year to 1,002.8 tonnes in 2019 as economic downward pressure weakens domestic consumption, according to the Ministry of Industry and Information Technology (MIIT) on Tuesday.
Consumption of gold bars and coins went down 27 percent to 225.8 tonnes, while that for gold jewelry dropped 8.2 percent to 676.2 tonnes.
Gold output in 2019 stood at 500.4 tonnes, down 2.6 percent from a year earlier. China's gold output has been ranking the first in the world for 13 consecutive years.
In 2019, the global spot gold price averaged 1,395.6 U.S. dollars per ounce, up 9.8 percent year on year. The average price of spot gold in China increased 13.7 percent on year to 308.7 yuan per gram last year. (Edited by Zhang Yuan, zhangyuan11@xinhua.org)
A single purchase
