These countries are among the biggest gold consumers
Published in Slideshow World
Gold has been a desirable commodity for thousands of years, dating back to ancient civilization.
In Rome, Julius Caesar gifted 200 gold coins to each of his soldiers to celebrate their victory against Gaul. Gold production and consumption have grown continually through modern times. In fact, most gold worldwide—more than 90%—has been mined since the mid-1800s California Gold Rush.
Today, gold is used broadly across industries from dentistry to electronics, where its durability and conductivity make it well suited for wiring and plating. Individuals worldwide also continue to invest in gold, collecting it in various forms: from bars and coins to jewelry. According to World Gold Council data, buyers purchased more than 3,200 metric tonnes of gold in 2023, and the average price per ounce set a new record: $1,940.54, an 8% increase from the previous year.
SD Bullion used data from the World Gold Council to break down gold consumption per capita, identifying the countries with the greatest consumer demand. Keep reading to learn more about how this demand has changed in recent years and the different ways people invest in this precious metal.
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