AIRLINK 140.75 Decreased By ▼ -12.57 (-8.2%)
BOP 9.18 Decreased By ▼ -0.61 (-6.23%)
CNERGY 6.58 Decreased By ▼ -0.51 (-7.19%)
CPHL 74.55 Decreased By ▼ -7.16 (-8.76%)
FCCL 42.85 Decreased By ▼ -1.19 (-2.7%)
FFL 13.54 Decreased By ▼ -1.09 (-7.45%)
FLYNG 34.87 Decreased By ▼ -1.80 (-4.91%)
HUBC 127.28 Decreased By ▼ -6.19 (-4.64%)
HUMNL 12.10 Decreased By ▼ -0.75 (-5.84%)
KEL 4.22 Decreased By ▼ -0.16 (-3.65%)
KOSM 4.87 Decreased By ▼ -0.55 (-10.15%)
MLCF 67.09 Decreased By ▼ -3.11 (-4.43%)
OGDC 196.63 Decreased By ▼ -6.30 (-3.1%)
PACE 4.57 Decreased By ▼ -0.52 (-10.22%)
PAEL 40.61 Decreased By ▼ -2.49 (-5.78%)
PIAHCLA 15.09 Decreased By ▼ -1.38 (-8.38%)
PIBTL 7.89 Decreased By ▼ -0.93 (-10.54%)
POWER 13.91 Decreased By ▼ -0.49 (-3.4%)
PPL 145.28 Decreased By ▼ -6.52 (-4.3%)
PRL 26.95 Decreased By ▼ -2.57 (-8.71%)
PTC 19.35 Decreased By ▼ -1.04 (-5.1%)
SEARL 74.05 Decreased By ▼ -7.46 (-9.15%)
SSGC 32.47 Decreased By ▼ -3.61 (-10.01%)
SYM 13.52 Decreased By ▼ -1.06 (-7.27%)
TELE 6.39 Decreased By ▼ -0.62 (-8.84%)
TPLP 7.65 Decreased By ▼ -0.67 (-8.05%)
TRG 58.99 Decreased By ▼ -5.09 (-7.94%)
WAVESAPP 8.71 Decreased By ▼ -0.93 (-9.65%)
WTL 1.22 Decreased By ▼ -0.11 (-8.27%)
YOUW 3.35 Decreased By ▼ -0.30 (-8.22%)
AIRLINK 140.75 Decreased By ▼ -12.57 (-8.2%)
BOP 9.18 Decreased By ▼ -0.61 (-6.23%)
CNERGY 6.58 Decreased By ▼ -0.51 (-7.19%)
CPHL 74.55 Decreased By ▼ -7.16 (-8.76%)
FCCL 42.85 Decreased By ▼ -1.19 (-2.7%)
FFL 13.54 Decreased By ▼ -1.09 (-7.45%)
FLYNG 34.87 Decreased By ▼ -1.80 (-4.91%)
HUBC 127.28 Decreased By ▼ -6.19 (-4.64%)
HUMNL 12.10 Decreased By ▼ -0.75 (-5.84%)
KEL 4.22 Decreased By ▼ -0.16 (-3.65%)
KOSM 4.87 Decreased By ▼ -0.55 (-10.15%)
MLCF 67.09 Decreased By ▼ -3.11 (-4.43%)
OGDC 196.63 Decreased By ▼ -6.30 (-3.1%)
PACE 4.57 Decreased By ▼ -0.52 (-10.22%)
PAEL 40.61 Decreased By ▼ -2.49 (-5.78%)
PIAHCLA 15.09 Decreased By ▼ -1.38 (-8.38%)
PIBTL 7.89 Decreased By ▼ -0.93 (-10.54%)
POWER 13.91 Decreased By ▼ -0.49 (-3.4%)
PPL 145.28 Decreased By ▼ -6.52 (-4.3%)
PRL 26.95 Decreased By ▼ -2.57 (-8.71%)
PTC 19.35 Decreased By ▼ -1.04 (-5.1%)
SEARL 74.05 Decreased By ▼ -7.46 (-9.15%)
SSGC 32.47 Decreased By ▼ -3.61 (-10.01%)
SYM 13.52 Decreased By ▼ -1.06 (-7.27%)
TELE 6.39 Decreased By ▼ -0.62 (-8.84%)
TPLP 7.65 Decreased By ▼ -0.67 (-8.05%)
TRG 58.99 Decreased By ▼ -5.09 (-7.94%)
WAVESAPP 8.71 Decreased By ▼ -0.93 (-9.65%)
WTL 1.22 Decreased By ▼ -0.11 (-8.27%)
YOUW 3.35 Decreased By ▼ -0.30 (-8.22%)
BR100 11,680 Decreased By -430.7 (-3.56%)
BR30 33,571 Decreased By -1768.2 (-5%)
KSE100 110,009 Decreased By -3559.5 (-3.13%)
KSE30 33,609 Decreased By -1071.3 (-3.09%)

BEIJING: China’s gold consumption in 2024 slumped 9.58% on the year to 985.31 metric tons, data from the China Gold Association showed, as high gold prices curtailed jewellery demand.

Gold jewellery buying, which accounts for half of the total, plunged 24.7% to 532.02 tons, according to the data.

The sharp decline in retail purchasing came as the most-active gold contract on the Shanghai Futures Exchange climbed by 28% last year.

Meanwhile, purchases of gold bars and coins, which typically reflect safe-haven demand, jumped 24.5% over the year to 373.13 tons, the association said.

High prices significantly curtailed the domestic buying interest in gold jewellery, while industries such as electronics, which require gold and tin for chip production, saw relatively weak demand, said a metals derivative trader, who declined to be named due to company policy.

Gold price per tola decreases Rs750 in Pakistan

China’s central bank also added gold to its reserves in December for a second straight month, after resuming its buys in November after a six-month hiatus, official data showed earlier this month.

Output

Also in 2024, China’s gold output from domestically produced raw materials climbed by 0.56% to 377.24 tons, association data showed.

Output of gold from imported raw materials increased 8.83% for the year to 156.86 tons, bringing China’s total gold output last year to 534.11 tons, an annual increase of 2.85%.

Comments

200 characters