China gold demand rises 4.4% in Q1 on bar, coin surge

9th May 2026 – (Beijing) China’s gold consumption recorded modest growth in the first quarter of 2026, supported largely by a sharp increase in demand for gold bars and coins, according to figures released on Saturday by the China Gold Association. Total gold consumption reached 303.29 tonnes in the January to March period, marking a 4.41 per cent rise compared with the same period last year. Investment demand proved to be the primary driver. Purchases of gold bars and coins soared 46.4 per cent year on year to 202.06 tonnes. In contrast, demand for gold jewellery declined significantly, falling 37.1 per cent to 84.62 tonnes. The first quarter also saw strong inflows into gold exchange‐traded funds. Holdings increased by 50.44 tonnes during the three‐month period, representing a 114.88 per cent year‐on‐year surge and bringing total ETF holdings to 298.29 tonnes by the end of March, the data showed.