Beijing: China Gold Association said that China’s gold production recovers to pre-pandemic level as demand for gold and jewelry jumps during the first quarter this year. As COVID-19 impacts waned, the gold output of domestic mines operated by big gold enterprises reached around 32.72 tonnes in Q1, accounting for nearly half of the country’s gold output, the data showed.
Central banks globally maintained net purchases of gold in the first quarter.
The People's Bank of China increased its gold holdings for five consecutive months from November 2022 to March 2023, including a total increase of 57.85 tonnes in the first quarter.
