BEIJING (XINHUA) – China’s gold consumption boomed during the week-long Spring Festival holiday, up 13 per cent year-on-year, according to data from the China Gold Association.
Gold ornaments and bars were among the best-selling products during the holiday, a traditional peak season for gold consumption.
“Sales increased by double digits during the holiday,” said an employee at the Caibai Jewelry Co Wang He, a leading gold retailer.
Winter Olympic gold and silver bars as well as commemorative gold and silver badges were also popular among consumers.
The country’s gold consumption totalled 1,120.9 tonnes last year, an increase of 36.53 per cent from a year ago, or up 11.78 per cent compared to that of 2019, the association said.