Table 8.6 shows that China is the both the world’s number one gold producer and second ranking consumer behind India, although recent reports suggest that the world’s most populous country may well be about to overtake India to become the top buyer of gold. Australia is the second largest producer of gold, followed by the United States and Russia, while South Africa, for many years the world’s biggest source of gold, has slipped to fifth place. India and China on the buy side between them account for 60 per cent of total gold consumption; they are followed by the US, Japan and Italy, with the latter still the world’s leading manufacturer of jewellery.
Table 8.6 Gold producers and consumers
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