BEIJING: China’s gold production fell in the first quarter of 2026 versus the same period a year earlier, the China Gold Association said on Saturday, as safety inspections led some smelters to suspend production for maintenance.

Total gold production from domestic and imported raw materials was 136.230 metric tons in the first quarter, down 3.3% from the corresponding period a year ago.

Domestic production in the quarter was 81.065 tons, down 7.1% from the previous year.

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Gold consumption in the quarter reached 303.292 tons, up 4.4% from a year earlier, led by a big jump in gold bars and coins, up 46.4% to 202.062 tons. Gold jewelry consumption fell 37.1% to 84.62 tons.

“Investment demand for gold remained strong, with gold bars and coins becoming popular investment products, and gold bar sales through bank channels increasing significantly,” the association said in a statement.