前三季度我国黄金首饰消费量降32.5%，金条需求增24.55%

Core Insights - China's gold consumption in the first three quarters of 2025 reached 682.730 tons, a year-on-year decrease of 7.95% [1] - Gold jewelry consumption was 270.036 tons, down 32.50% year-on-year, while demand for gold bars and coins increased by 24.55% to 352.116 tons [1] - Industrial and other gold usage rose by 2.72% to 60.578 tons, indicating a steady recovery in demand due to the rapid development of electronic and new energy industries [1] Category Summaries - Gold Jewelry: The consumption of gold jewelry saw a significant decline of 32.50%, reflecting a shift in consumer preferences and market dynamics [1] - Gold Bars and Coins: There was a robust demand for gold bars and coins, with a year-on-year increase of 24.55%, driven by geopolitical tensions and economic uncertainties highlighting gold's role as a safe-haven asset [1] - Industrial Gold: The industrial gold segment experienced a modest growth of 2.72%, supported by advancements in electronic and new energy sectors [1] - Gold ETFs: Domestic gold ETFs saw an increase in holdings by 79.015 tons, a remarkable growth of 164.03% compared to the same period in 2024, with total holdings reaching 193.749 tons by the end of September [1]