China's gold consumption in Q1 2016 fell 3.91% y/y - Xinhua

The official Xinhua news agency noted via Reuters, citing the China Gold Association that China's gold consumption in Q1 2016 fell 3.91% y/y to 318.28 tonnes, compared with 3.66% growth for the entire 2015 year.

China Gold said that due to weak economic growth, consumption of gold for jewelry use plunged 14.44% y/y during the first three months, compared with a 2.05% increase in 2015 while gold for industrial use fell 4.88% on year in the first quarter.

China's Q1 gold output rose 0.78% y/y to 111.563 tonnes, the People's Daily said last month.