China to remain largest gold producer: association

Source:Xinhua Published: 2012-12-28 10:05:22

 

A woman in Foshan, South China’s Guangdong Province holds a gold bar bearing an image of the Diaoyu Islands Thursday. Gold and silver bars with this theme are popular recently, as many consumers hope to show patriotism by purchasing products related to the islands, the subject of a dispute between China and Japan. The current gold price is around 330 yuan ($53) per gram, and the 100-gram gold bar is sold at roughly 35,000 yuan. Photo: CFP
A woman in Foshan, South China’s Guangdong Province holds a gold bar bearing an image of the Diaoyu Islands Thursday. Gold and silver bars with this theme are popular recently, as many consumers hope to show patriotism by purchasing products related to the islands, the subject of a dispute between China and Japan. The current gold price is around 330 yuan ($53) per gram, and the 100-gram gold bar is sold at roughly 35,000 yuan. Photo: CFP

 

The China Gold Association (CGA) forecast on Thursday that China will likely remain the world's largest gold producer for the sixth consecutive year in 2012.

The association's latest data showed that China produced 323 tonnes of gold from January to October, up 11 percent from the same period last year.

China surpassed South Africa to become the largest gold producer in 2007 and remained the biggest as of the end of last year, according to a report released Thursday by the CGA.

China is currently the world's second-largest gold consumer after India. In 2011, China's total gold consumption stood at 761.05 tonnes, the report said.



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