India, world's number one buyer of gold!
The craze for the yellow metal in India is phenomenal. It has traditionally been the world's largest consumer of gold. India buys an average of 800 tonnes of gold every year and its total jewellery market is worth more than $20 billion.
However, in recent times the demand for gold in India has waned slightly, with the price of the precious metal zooming to record highs. Yet, the country remains the largest buyer of gold, at 770 tonnes in 2007.
Source: GFMS (Gold Field Mineral Services)
Image: A visitor admires a gold necklace on display at the Gem & Jewellery India International Exhibition 2009 in Chennai. | Photograph: Babu/Reuters
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