China remains world top gold consumer in Q3

Beijing-China (Nov 15)  China has kept its position as the world’s largest gold consumer, possessing 210 tonnes in the third quarter this year, Official media reported. The figure is an 18 percent increase over the same period last year in  jewelry, bullion and coin sectors, the Xinhua news agency referred to  a report from World Gold Council (WGC) Thursday. China has increased its lead in gold demand over the world’s traditionally biggest gold consumer, India. In the July-September period, India’s gold consumption was 148.2 tonnes, a 32-percent year-on-year decrease. Jewelry consumption remained the largest component of global gold demand with total consumption at 487 tonnes, an increase of five percent on Q3 last year.