China overtakes India as world’s largest gold consumer

Tuesday, February 18, 2014
By Paul Martin

According to a study by the World Gold Council, China has become the biggest consumer market for the precious metal. It toppled India, which had led the table ever since official data were first made available.

The survey found that Chinese customers had bought a total of 1,066 tons of gold products in 2013, up 32 percent from 2012, while their Indian counterparts had purchased 975 tons, up 13 percent from 2012 levels.

The council noted that another 300 tons of gold bought by Chinese clients last year were most likely not registered statistically.

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