The association attributed the uptick to a rebound in gold jewellery sales mainly due to stronger consumption of high-end products and rising purchasing power in China’s second- and third-tier cities. Uncertainties in the property and securities markets also contributed to an improved demand for gold, noted the China Gold Association.
Naopak, gold production was down 3.76 percent during the first three quarters of 2017 compared to last year, it added.