The countries with the highest annual gold consumption have shown consistency over the past decade. According to the World Gold Council, India and China were the top gold consuming countries in 2010, and both countries have maintained this status in 2022 with consumption of 824.9 and 774 metric tons, respectively. China and India are followed by the US, Saudi Arabia, Germany, Turkey and Iran.
However, strict quarantine measures in China and the Covid outbreak in India have led to a temporary drop in consumer-level shopping. Demand for gold in China hit an all-time low...
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