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Chinese gold consumption reaches pre-pandemic levels
It was reported during the Asian session that Chinese gold consumption soared 93.9% in the first three months from the same quarter a year earlier. This was according to the China Gold Association who released the report on Friday. China is the world’s largest gold consumer and they saw consumer demand in the first quarter of 2021 rise to 286.4t from the previous quarter. The surge in demand for gold is supported by factors of improving economic conditions, lower gold prices, and the massive sale related to holidays. China’s March net gold imports through Hong Kong surged to the highest level since December 2019 ... (full story)