中国黄金协会公布的最新数据显示，2026年上半年国内原料黄金产量为152.908吨，同比下降14.62%[1]。这一产量下滑主要源于重点产金省区实施矿山安全大排查，导致部分矿山停产自查[1]。与此同时，进口原料黄金产量为77.080吨，同比增长4.62%[1]，国内原料和进口原料共生产黄金229.988吨，同比下降9.01%[1]。
在国内产量承压的背景下，大型黄金集团的境外矿山项目表现突出，上半年实现矿产金产量48.098吨，同比增长21.43%[1]。紫金矿业加纳阿基姆金矿与哈萨克斯坦瑞果多金矿等项目持续释放增量[1]，弥补了部分国内产量下降的影响。
尽管国内产量有所下滑，黄金消费市场呈现投资需求强劲的特点[2]。上半年中国黄金消费量为511.412吨，同比增长1.23%[2]。其中黄金首饰消费下降33.88%至132.133吨，金条及金币消费则增长28.42%至339.336吨，显示消费结构向投资类产品倾斜[2]。此外，中国在上半年增持黄金40.12吨，延续了自2024年11月以来连续20个月的增持态势[2]。
China's domestic gold production declined to 152.908 tonnes in the first half of 2026, marking a year-over-year decrease of 14.62%[1]. Combined output from domestic and imported raw materials totaled 229.988 tonnes, representing a 9.01% drop compared to the same period last year[1]. The downturn was primarily attributed to comprehensive safety inspections at major gold-producing provinces and regions, which forced certain mines to suspend operations for compliance reviews[1].
Despite the contraction in domestic production, China's gold sector showed mixed signals. Imported raw materials yielded 77.080 tonnes, up 4.62% year-over-year[1]. More significantly, major gold groups' overseas mining projects demonstrated resilience, with output from foreign mines reaching 48.098 tonnes in the first half, a 21.43% increase[1].
On the consumption front, China's total gold consumption increased 1.23% to 511.412 tonnes[2]. However, the composition shifted markedly: gold jewelry demand fell 33.88% to 132.133 tonnes, while bars and coins surged 28.42% to 339.336 tonnes, underscoring robust investment appetite amid elevated gold prices and new tax policies[2]. Gold trading activity on the Shanghai Gold Exchange showed single-sided volume declining 4.37% but transaction value rising 36.75% to 16.57 trillion yuan[2]. Meanwhile, China continued its monetary gold accumulation, adding 40.12 tonnes in the first half, extending an unbroken streak of monthly purchases to 20 consecutive months through June 2026[2].