Question

Which of the following countries in the world is the biggest consumer of gold?

• A. China
• B. United States
• C. India
• D. Russia

Hint:

India and China together account for over 50\% of world gold demand. China currently ranks \#1.

Answer 1

The Correct Option is A

Step 1: Gold consumption globally. For decades, India was the world's largest gold consumer due to demand for jewelry.
Step 2: Recent changes. In the last decade, China overtook India as the largest gold consumer because of its rapid economic growth and demand from both individuals and central banks.
Step 3: Conclude. Therefore, the biggest consumer of gold in the world is China. \[ \boxed{\text{China}} \]