China has yet to release gold output data for latest quarter
CHINA-GOLD/ (PIX):China has yet to release gold output data for latest quarter
Nov 6 - China did not publish gold data for the latest quarter as it usually does in late October, prompting industry speculation that the world's top producer of the precious metal may have ceased publication altogether.
China - also the world's largest consumer of gold - typically releases output and consumption data for the first three quarters on the China Gold Association's website. The only exception to a late October publication has been one time in 2017 when it was published on November 1. The data was first published on a quarterly basis in 2016.
The association and China's industry ministry did not respond to Reuters requests for comment.
Beijing stopped disclosing key supply indicators for rare earths this year and some industry participants said they would not be surprised if the same happened with gold.
The lack of gold data comes after China ended a long-standing tax exemption policy for some gold retailers on Saturday, which could dampen demand for the precious metal from some gold buyers.
Gold prices have hit record highs propelled by growing safe-haven demand amid bets that the U.S. Federal Reserve will cut rates, heightened geopolitical conflicts worldwide and strong buying from China's central bank which added gold to its reserves in September for an eleventh straight month.
Investment banks expect gold to notch up new records next year. Morgan Stanley, for example, believes gold prices could hit $4,500 by mid-2026 while Bank of America has raised its outlook for next year to $5,000. Gold was last trading at around $3,990.
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