August 2, 2019 / 9:02 AM / 3 months ago

China's H1 gold consumption down 3.3% y/y to 523.5 T - association

BEIJING, Aug 2 (Reuters) -

* China’s gold consumption fell by 3.3% year-on-year to 523.54 tonnes in the first half of 2019, the China Gold Association said on its website on Friday.

* Consumption of gold jewellery increased by 2% year-on-year to 358.77 tonnes in January-June, while consumption of gold bars slumped by 17.3% year-on-year to 110.51 tonnes.

* China, the world’s biggest gold consumer, saw its own output of the precious metal slip 5.1% year-on-year to 180.68 tonnes in the first half, the association said.

* It cited factors including the withdrawal of mining rights in nature reserves for the decline in production. (Reporting by Tom Daly; editing by Gopakumar Warrier)

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