China's H1 gold consumption jumps 54%

 

China's gold consumption jumped 54% 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 2012 and about 460 tonnes in the first half of 2012.

 

Output in China, the world's biggest gold producer, reached 192.82 tonnes, up 9% from a year ago, the association said in a statement on its website on Monday.