Largest Producers and Consumers of Gold

Gold has come into the limelight since the year 2008 when the recession hit the world, and since gold has touched and breached its previous highs and even now people are bullish about this asset class as euro zone crisis and fear of double dip recession looms over USA.

Since gold has been a profitable investment and it has almost tripled in last 5 years many people are now interested in knowing more about gold as they too want to earn good return from this commodity. Given below are the largest producers and consumers of gold.

Largest Producers of Gold – Gold producing countries have certainly benefited from the rally in gold prices. Given below are top or largest producers of gold in no particular order –

  1. South Africa
  2. China
  3. USA
  4. Australia
  5. Russia

Gold production keeps changing in above countries and that is the reason why above ranking keeps changing every year.

Largest Consumers of gold – Gold is consumed for variety of purposes like for jewelry, industrial production, medicines, investment and so on. Given below are the top or largest consumers of gold in the world –

  1. India, it is the largest consumer of gold in the world.
  2. China
  3. United States
  4. Turkey
  5. Saudi Arabia

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