India has now overtaken China as the world’s largest gold consumer in 2014 as gold trading in India continues to climb. Indian Jewellery demand climbed by fourteen percent in 2014 to a record of 690 tonnes. The drop in Chinese gold demand was attributed to slower economic growth and to government crackdown on corruption. Gold has always had both a strong cultural and investment value in India. India’s gold imports have risen continually over the last decade. India has a love affair with gold that refuses to go away. Gold has had quite a drop from its nearly $2000 high, but many believe that the lower price of gold is now a buying opportunity. It is also expected that gold trading in China will also increase as Chinese demand for gold rises in 2015.
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