Which country consumes the most gold?

It’s a fact that in the U.S, people love to wear gold. From gold necklaces to rings and earrings, gold is a precious metal that is highly valued in the United States. But gold is valued just as highly all over the world. In Germany, gold is even used in drinks such as the Danzziger Goldwasser, due to its non toxicity. Worldwide, the consumption of gold breaks down like so:

50% Jewelry

40% Investments

10% industry

So which country is the biggest consumer of gold worldwide? Here’s a hint…it’s not the U.S!

India is the world’s biggest consumer of gold in the world, as Indians buy about 25% of the world’s gold! China comes in second place, as the world’s largest consumer of gold investments.

“Purchasing approximately 800 tonnes of gold every year, mostly for jewelry. India is also the largest importer of gold, in 2008, India imported around 400 tonnes of gold. “

Source: http://www.commodityonline.com/news/Gold-Why-China-outbeats-India-in-gold-reserves-17196-3-1.html