Top 10 gold consumers in the world 2011
- By Zhang Junmian
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E-mail China.org.cn, February 29, 2012
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China was the second largest consumer of gold in the world in 2011. [hudong.com] |
Year on Year Change: 22 percent
China was the second largest consumer of gold in the world in 2011, with total tonnage hitting 811.2 tonnes, a 22 percent increase compared to 2010, driven by jewelry and investment demand. The largest rise was in bar and coin investment, where the demand rose 43 percent to 266 tonnes. At the same time, jewelry demand kept rising throughout the four quarters, making China the biggest single jewelry market in the world for the second half of 2011.
In the fourth quarter of 2011, the country consumed 201.6 tonnes of gold, 28.6 tonnes more than that of India, the world's largest gold consumer. It's estimated by the WGC that China will replace India as the top gold consumer in the world for the first time in 2012.
According to the China Gold Association, China's gold output reached a record high of 360.96 tonnes in 2011, cementing its top global ranking for the fifth consecutive year.
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