China Gold Demand Climbs 1.23% in H1 as Jewelry Weakens but Investment Surges

China’s gold consumption edged up 1.23% to 511.41 tonnes in the first half of 2026, the China Gold Association reported, compared with 505.21 tonnes a year earlier. Surging investment buying offset a sharp drop in jewelry demand, which fell 33.88% year-on-year to 132.13 tonnes amid elevated retail prices. Purchases of bars and coins, however, jumped 28.42% to 339.34 tonnes as periodic price dips encouraged buyers.