A woman looks at products in the Jewelry Exhibition Hall of the first China International Consumer Products Expo in Haikou, capital of south China's Hainan Province, May 7, 2021. (Xinhua/Zhou Jiayi)
BEIJING, April 27 (Xinhua) -- Gold consumption in China shrank by 9.69 percent year on year to 260.26 tonnes in the first quarter of this year, according to data released by the China Gold Association (CGA) on Wednesday.
During the January-March period, consumption of gold jewelry dipped 0.19 percent from a year ago to 168.86 tonnes, while that of gold coins and bars plunged 27.71 percent year on year to 69.62 tonnes, CGA data showed.
According to the association, gold jewelry purchases saw a robust growth momentum in January and February, driven by holiday spending.
However, consumers' enthusiasm for the precious metal receded in March due to price fluctuations and a resurgence of COVID-19 cases, bucking the upward trend in the first two months.
In the first three months, gold consumption for industrial and other uses in the country totaled 21.78 tonnes, down 4.1 percent from a year earlier.
The country's gold output amounted to 83.4 tonnes in the first quarter, an increase of 8.96 tonnes or 12.04 percent compared with the same period last year.
A single purchase
