What Is The Share Of China And India In The Global Consumer Demand For Gold?
China and India are the two largest consumers of gold in the world. The consumption of gold jewelry is inextricably linked with cultural traditions in the two countries with gold considered auspicious at festivals and social events, such as weddings. In addition, with large sections of the populations of both countries having limited access to financial assets, gold also constitutes an important avenue for investment in the form of gold coins and bars. Gold jewelry, bars, and coins taken together constitute the consumer demand for gold (gold demand from private individuals), with China and India comfortably accounting for more than half of the world’s consumer demand for gold. Further, as the consumption of gold by individuals is linked with levels of disposable income and by extension with economic growth, these two rapidly growing emerging economies will continue to drive consumer demand for gold in the years to come.
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