'Gold lovers': Top 5 gold-consuming countries in the world
Gold is one of the most irreplaceable assets in the world. It has been used in the form of currency, a symbol of wealth, status and in jewellery for a long history. Based on the World Gold Council report in 2025, here’s the list of the 5 largest gold-consuming countries in the world.
5. Thailand
Thailand consumes about 39.7 metric tonnes of gold annually, primarily in jewellery. Gold chains and ornaments are both cultural symbols and savings assets. Widely available gold shops displaying prices in “baht” weight reflect gold’s deep integration into Thai culture and everyday financial life.
4. Germany
Germany’s annual gold consumption stands at roughly 42.2 metric tonnes, dominated by industrial demand in electronics and medical technologies. Though jewellery and investment play roles, the country’s emphasis lies in high-tech utilisation, supported by a strong economy and culture of financial prudence.
3. United States
The United States consumes around 136.9 metric tonnes of gold yearly, with demand split among jewellery, industrial use, and investment. Gold’s conductivity and corrosion resistance make it vital for technology, while bullion, coins, and ETFs remain popular hedges against financial instability.
2. India
India consumes about 575.8 metric tonnes of gold annually, largely driven by its cultural and traditional attachment to gold jewellery. Beyond adornment, gold serves as a trusted store of value, especially in rural areas. With minimal domestic mining, India heavily depends on imports to meet demand.
1. China
With an annual consumption of approximately 630.2 metric tonnes, China is the leading consumer in the world. Other than jewellery, it is also used in industrial applications, including electronics and other sectors. It also serves as a safe-haven asset for both individuals and institutions.
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