China becomes largest gold consumer
The Chinese are taking the lead role in many things in the last five years. The country with the largest population, has been growing at a scorching pace in the last ten years. And that in turn has helped it to become the largest mobile market in the world four years back. Also that helped it to become the largest trading partner for US few years back.
A year back it became the largest gold producing nation, overtaking South Africa. Now it is all set to become the largest Gold consuming nation, over taking India. The increasing prosperity in China is forcing the Chinese citizens to start investing in the yellow metal in a big way. Also the Chinese government has also turned into a big buyer of Gold as a diversification measure.