Gold holds a very special place in precious metals and People from every region and every class favored it. But in some countries, there are immense preferences for Gold.
An international institute Money Morning’s analyst Peter Krauth compiled a list of world’s biggest Gold consumers.
According to the research, India is the biggest Gold consumer in the world and Chinese relegated to the second largest consumer of gold.
In 2014, the largest buyers of gold are India and china in the world, India consumed a total 842 tons of gold. China was close behind at 813 tons.
It is expected that sooner Apple may rank in 3rd position, as theoretically consuming as much as 746 tons a year for its gold Watch.
“If some of the sales and gold content projections are correct, the gold Apple Watch could soon gobble up nearly a third of the world’s gold production,” he says. “That much new demand would be the biggest gold price catalyst we’ve seen in years,” he notes.
According to “Wall Street Journal” Apple will produce nearly 1 million unites every month for its Smart Watch’s edition version and 18 carat solid gold will be used in each unit.