2025年我国黄金产量同比微增 消费量同比下降

Production Insights - In 2025, China's gold production is projected to reach 381.339 tons, representing a year-on-year increase of 1.09% [1] - Domestic raw gold production is expected to be 381.339 tons, with imported raw gold production at 170.681 tons, showing an increase of 8.81% [1] - Significant breakthroughs in exploration and development projects are anticipated, including the discovery of China's first thousand-ton low-grade super-large gold deposit in Liaoning [1] Consumption Trends - China's gold consumption is forecasted to be 950.096 tons in 2025, reflecting a year-on-year decline of 3.57% [1] - Gold jewelry consumption is expected to be 363.836 tons, down 31.61% year-on-year, while gold bars and coins consumption is projected to be 504.238 tons, up 35.14% [1] - Industrial and other gold usage is anticipated to reach 82.022 tons, marking a year-on-year increase of 2.32% [1] - For the first time, gold bars and coins consumption is expected to surpass that of gold jewelry [1] Market Activity - In 2025, the total trading volume of all gold varieties on the Shanghai Gold Exchange is projected to be 62,900 tons, with a total transaction value of 49.86 trillion yuan [2] - The Shanghai Futures Exchange is expected to see a trading volume of 284,500 tons in gold futures and options, with a transaction value of 177.94 trillion yuan [2] - Domestic gold ETF holdings are expected to increase by 133.118 tons in 2025, a significant growth of 149.91% compared to 2024, bringing the total scale to 247.852 tons by the end of December [2]