Gold News

China Gold Bullion Output Rises

CHINA'S Gold Bullion output continued to grow in the first half of 2011 – but did not rise enough to keep pace with growing domestic demand.

Gold Mining output in the first six months of the year was 164.42 tonnes – a 3.25% rise from the same period in 2010 – according to China's Ministry of Industry and Information Technology .

Private Chinese demand for Gold Bullion meantime grew 47% year-on-year up to the first quarter of 2011 – the latest period for which figures are available – according to leading precious metals consultancy GFMS, whose findings are published by the World Gold Council.

Total Gold Bullion demand from China was 233.8 tonnes in Q1 2011 – while Gold Mining output for the same period was 73.41 tonnes.

Gold Bullion demand figures for Q2 2011 are due to be published later this month.

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