China to be This Year’s Biggest Gold Consumer

Bloomberg reported that China will surpass India as the largest user of gold this year.

As quoted in the market news:

Demand in China jumped 20 percent to 769.8 metric tons in 2011, while consumption in India fell 7 percent to 933.4 tons, according to a report from the producer-funded World Gold Council today.

Click here to read the full Bloomberg report.