Driven by a surge in investment demand for gold bars and coins, China's gold consumption saw a steady increase in the first quarter of 2026, even as high prices weighed on jewelry sales and domestic production, data from the China Gold Association showed on Saturday.

The country consumed a total of 303.29 metric tons of gold from January to March, representing a 4.41 percent year-on-year increase, according to the data.

In breakdown, consumption for gold bars and coins surged 46.4 percent to 202.06 tons, while gold jewelry consumption fell 37.1 percent to 84.62 tons.

The first three months also witnessed robust inflows into gold exchange-traded funds (ETF), which added 50.44 tons during the period, surging 114.88 percent year-on-year and lifting total ETF holdings to 298.29 tons by the end of March, according to the data.