Gold consumption in China reaches 320.5 tons in Q1  

一季度中国黄金消费320吨 “中国大妈”偏爱金条

2013年一季度，中国黄金消费量达320.54吨，比去年同期增长25.6%，其中，金条、金币等投资类消费增长迅猛。

Beijing (CNS) -- In the first quarter, gold consumption in China reached 320.54 tons, up by 25.6 percent from last year, according to the China Gold Association on Tuesday

Statistics released by the association show that purchases of gold bars surged 48.8 percent to 120.39 tons, while jewelry gained 16.3 percent to 178.59 tons.

Gold output in China gained 11 percent to 90 tons.

Gold prices slumped in April as investment banks advised sell-off, which led to the end of the decade-long bull market in the precious metal.

It also led to a surge in demand for jewelry, coins and bars by housewives in China.

The surging demand for gold by housewives in China reflects the imbalance between Chinese people's strong consumption capacity and their limited investment channels, some analysts said.