India And Gold
June 28, 2011 3 Comments
The picture on the right might be what comes first to mind when a lot of people think about India and gold–A bride decked out in gold ornaments.
Here interesting facts about Indians and gold:
India is the world’s largest buyer of gold, accounted for 32% of the global demand in 2010.
India’s annual consumption demand has risen from an average of 300-400 tonnes (1998-2004) to about 900-1,000 tonnes in the last three years (2008-2010).
India’s demand for gold rose by 106% Y-o-Y,in 2010, substantially higher than the 60% recorded by the second-fastest growing market- China.
Indians invest over 11% of the gross savings in gold, against less than 2% by the Chinese. Read more of this post
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