Gold output, consumption to stay robust in 2024

Gold output and consumption are expected to remain in positive territory this year, experts said, after the yellow metal's off-take rose significantly in China last year, fueled by economic recovery and sustained purchases by the central bank.

China consumed 1,089.7 metric tons of gold last year, up 8.78 percent year-on-year, according to data released by the China Gold Association.

Growing risk-aversion by investors due to a volatile global financial environment has contributed to the "gold rush", said Zhao Xiangbin, chief strategist at Beijing Gold and Forex Fortune Investment Management.