# 2 Greater China

Gold Consumed Worth (in 2011) - $40.7 billion

Total Gold Holdings in Central Bank - 1,054.1 tonnes

Greater China is a term used to refer to Mainland China, Hong Kong, Macao and Taiwan. The total amount of gold consumed in parts greater china is of $40.7 billion. China reportedly made significant gold purchases in 2011. Though China is world's most populous nation its gold holdings are only 1.6 percent of its total reserves.

# 1 India

Gold Consumed Worth (in 2011) - $46.3 billion

Total Gold Holdings in Central Bank - 557.7 tonnes

For Indians, gold has always been much more than a precious metal. It is an inseparable part of Indian culture, traditions and religious rites. Akshaya Tirtya is a Indian festival which is considerd an auspicious time for buying gold. Hence, there is no surprise as to why India is the world’s number one gold consuming nation and will remain so in future too because it has the largest number of gold lovers.

Also Check Out - 8 Countries with Zero Income Tax