India remained world’s largest gold market and consumes more gold than any other nation, pushing China again to the second spot, according to World Gold Council.
However, in case of gold bars and coins, India was pushed behind to second spot by China in the first quarter of 2011.
In its ‘Gold Demand Trends report for Q1 2011’ WGC said Chinese investors bought 93.5 tonnes of gold between January and March in the form of coins, bars and medallions, a 55 per cent increase from the previous quarter and more than double the level of a year earlier.
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