As China’s consumption of gold jewellery slumps 34%, sellers pivot abroad: WGC - scmp.com

AI desk brief

China’s gold jewellery consumption has slumped 34%, prompting domestic sellers to push harder into export markets, especially the Middle East and India, according to the WGC. The council said buyers from those regions were prominent at the latest Jewellery & Gem World Hong Kong fair, as Chinese makers market their hard pure gold products and advanced crafting techniques to tap inlaid-jewellery demand abroad.

For bullion, the near-term read is softer physical jewellery demand in China, partly offset by a potential channel shift toward overseas buyers. The article frames the move as a response to gold price volatility rather than a new demand catalyst.