BEIJING, Nov. 4 (Xinhua) -- China's gold consumption rose 0.28 percent year on year to 684.623 tonnes in the first three quarters of 2026, supported mainly by gold bar and coin demand, according to data from the China Gold Association.
Consumption of gold bars and coins jumped 26.26 percent to 444.576 tonnes during this period, while gold jewelry consumption fell 33.86 percent to 178.612 tonnes. Industrial and other uses of gold rose 1.41 percent to 61.434 tonnes.
The association said Wednesday that the investment-product market is undergoing a structural reshaping, with direct sales gradually replacing dealership models, while jewelry products are moving toward higher added value, with fixed-price products gaining share.
On the supply side, gold produced from domestic raw materials fell 18.71 percent during the period. The association attributed this decline to safety management upgrades at mines and the suspension of production for maintenance at some key projects.
Meanwhile, overseas capacity of major Chinese gold groups continued to expand, with their overseas mines producing 71.126 tonnes in the period, up 15.77 percent year on year.
In the first three quarters of 2026, China added a cumulative 103.26 tonnes of gold to its reserves. At the end of September, China's gold reserves stood at 2,409.59 tonnes, ranking fifth globally.
China increased its gold holdings for 23 consecutive months from November 2024 to September 2026. ■
