On May 9th, it was learned from the China Gold Association that China's gold production in the first quarter of 2026 was 81.065 tons, a year-on-year decrease of 7.08%; The consumption of gold was 303.292 tons, a year-on-year increase of 4.41%. From a production perspective, the domestic raw material gold production in the first quarter was 81.065 tons, a year-on-year decrease of 7.08%; Imported raw materials produced 55.165 tons of gold, a year-on-year increase of 2.94%. The relevant person in charge of the China Gold Association stated that in the first quarter, mines and smelters in the gold industry conducted centralized safety inspections, and some enterprises stopped production for maintenance in accordance with regulations, which to some extent affected domestic gold production. At the same time, large gold conglomerates have released strong overseas production capacity, achieving a mineral gold output of 24.173 tons in the first quarter, a year-on-year increase of 30.77%. From the consumer perspective, in the first quarter of 2026, China's gold consumption was 303.292 tons, a year-on-year increase of 4.41%. Among them: 84.620 tons of gold jewelry, a year-on-year decrease of 37.10%; 202.062 tons of gold bars and coins, a year-on-year increase of 46.40%; Industrial and other gold consumption was 16.610 tons, a year-on-year decrease of 7.43%. In the first quarter, the trading volume of all gold varieties on both sides of the Shanghai Gold Exchange was 14500 tons, a year-on-year decrease of 9.61%; The bilateral transaction volume was 15.68 trillion yuan, a year-on-year increase of 46.58%. The total trading volume of gold futures and options on both sides of the Shanghai Futures Exchange was 67600 tons, a year-on-year increase of 22.08%; The bilateral transaction volume was 56.83 trillion yuan, an increase of 86.18% year-on-year. In the first quarter, the domestic gold ETF increased its holdings by 50.438 tons, a year-on-year increase of 114.88%. By the end of March 2026, the domestic gold ETF holdings were 298.289 tons. At the end of March, the closing price of Au9999 gold on the Shanghai Gold Exchange was 1018.90 yuan per gram, an increase of 2.92% from the opening price at the beginning of the year. In the first quarter, the prices of gold, silver, platinum, and palladium successively hit new historical highs, and the market fluctuated violently. The Shanghai Gold Exchange, Shanghai Futures Exchange, and Guangzhou Futures Exchange promptly issued risk warnings, strengthened trading supervision, initiated risk control measures, and ensured the smooth operation of the domestic precious metal market. (Looking into the New Era)