The data recently released by the China Gold Association shows that in the first half of the year, China's gold consumption was 505.205 tons, a year-on-year decrease of 3.54%. Among them, 199.826 tons of gold jewelry decreased by 26% year-on-year; 264.242 tons of gold bars and coins, a year-on-year increase of 23.69%; Industrial and other gold consumption reached 41.137 tons, a year-on-year increase of 2.59%. The decline in gold consumption is closely related to the rise in gold prices. The relevant person in charge of the China Gold Association stated that high gold prices suppress the consumption of gold jewelry, but jewelry products with light weight, strong design sense, and high added value are still favored. The function of gold as a safe haven and value preservation has become prominent, and the demand for private gold bars and coins has increased significantly. In addition to physical gold, the rise in gold prices has also driven the increase in the size of gold ETFs (exchange traded funds). According to data released by the China Gold Association, the domestic gold ETF increased its holdings by 84.771 tons in the first half of the year, a year-on-year increase of 173.73%. (New Society)