India is the #1 market in the world for gold, but China is catching up.
According to the World Gold Council, demand in China tripled from 206 tons in 2001 to 580 tons in 2010. India consumed 963 tons. However, China has consumed 200 tons of gold in just the first two months of 2011.
China, by the way, is the largest producer of gold in the world, surpassing South Africa in 2007.
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