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, while imported raw gold production is anticipated to be 170.681 tons, marking an 8.81% increase [1] - Significant breakthroughs in exploration and development projects are expected, including the discovery of China's first thousand-ton low-grade super-large gold deposit in the eastern Liaoning region [1] Consumption Trends - China's gold consumption is forecasted to be 950.096 tons in 2025, a decrease of 3.57% year-on-year [1] - Gold jewelry consumption is projected to decline by 31.61% to 363.836 tons, while gold bars and coins consumption is expected to rise by 35.14% to 504.238 tons [1] - Industrial and other gold usage is anticipated to grow by 2.32% to 82.022 tons, driven by demand from emerging industries such as electronics and new energy [1] Market Activity - In 2025, the total trading volume of all gold varieties on the Shanghai Gold Exchange is expected to reach 62,900 tons, with a total transaction value of 49.86 trillion yuan [2] - The Shanghai Futures Exchange is projected 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 149.91% to 133.118 tons in 2025, with a total scale of 247.852 tons by the end of December [2]