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India has retained its position as world's largest gold consumer after a weak first quarter owing to around 49 per cent recovery in demand in peak wedding and festival season, the World Gold Council (WGC) has said.
China was the only gold jewellery market to grow 6 per cent in 2009, according to the figures compiled by the organisation formed and funded by world's leading gold mining companies. "In 2009, dollar demand for gold remained above the USD 100 billion mark for the second year in succession against the backdrop of continued turbulence in financial and commodity markets," it said.
China was the only non-western country to record growth of 22 per cent in investment demand in 2009. In contrast, ETF demand in 2009, at 594.7 tonnes, was 85 per cent higher than in 2008, equivalent to an inflow of $17.
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