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BEIJING, Oct 28 - China's gold consumption in the first three quarters of 2024 slid 11.18% from the same period a year ago to 741.732 metric tons as high prices dented buying interest for jewellery products, the state-backed gold association said on Monday.
"Gold prices have been on the rise over the first three quarters, affecting jewellery buying, although the rapid development of new e-commerce models such as live streaming and instant retail has driven the growth of small gram gold jewelry consumption," the association said. The contract climbed over 600 yuan a gram to hit a record at 630.44 yuan a gram on Oct. 23 amid the intensified conflict in the Middle East.
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