Largest consumer

Discussion in 'Bullion Investing' started by Coin Chick, Jan 26, 2011.

  1. Coin Chick

    Coin Chick Loves Gold

    Which country is the largest consumer of gold?
     
    Coin Chick, Jan 26, 2011
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  3. serendipitous

    serendipitous New Member

    It used to be India, I think still its India.
     
    serendipitous, Jan 28, 2011
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  4. Guardian1

    Guardian1 New Member

    Yes, it is India.
     
    Guardian1, Jan 29, 2011
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  5. Ginger1

    Ginger1 Member

    Yes India still stands first. But the demand seems to be increasing in china.
     
    Ginger1, Jan 31, 2011
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  6. Peter T Davis

    Peter T Davis Hammer at the Ready Moderator

    Demand for everything increasing in China! lol

    Where do you find the information about India being the largest consumer of gold? I wouldn't guess India as the largest consumer.
     
    Peter T Davis, Jan 31, 2011
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  7. vest007

    vest007 New Member

    A total of 750 to 800 tonnes of gold was sold in India during FY 2010. Since the total world production is only around 2,500 tonnes, that will mean that more than one-third of all the gold mined is consumed in India. Consumption in Geater China was 462 tonnes for the same period.

    In India, gold jewelry is very common, especially among the Hindus. But in China, it is mostly used as bullion I think.
     
    vest007, Jul 9, 2011
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