Even as prices set new all-time highs, the latest government and industry data showed that China continued to consume the lion’s share of global gold production. The China Gold Association (CGA) announced on Friday that the country’s gold consumption was 5.94% higher in the first quarter of 2024 than during the same period in 2023, which they attributed to surging demand among the citizenry for safe haven assets. Chinese buyers bought 308.91 metric tons of the precious metal in the first three months of the year. The CGA said gold bars and coins represented 34% of the total, as they saw an increase of 26.77% percent ... (full story)