China's Gold Consumption Trends Shift

The gold market in China experienced varying consumption patterns during the first half of 2026. Jewelry consumption declined by 33.88%, reaching 132.13 tons, while demand for bars and coins increased by 28.42%, totaling 339.34 tons. Overall gold consumption, however, rose by 1.23% to reach 511.41 tons. Industrial gold usage fell by 2.9% due to rising prices and production costs. China’s gold production amounted to 152.91 tons, down 14.62% year-on-year. On the other hand, China’s gold reserves increased by 40.12 tons, reaching a total of 2,346.45 tons, continuing the central bank’s accumulation of reserves since November 2024.

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