The highest jewelry user country
China is at the top of buying and selling gold jewelry. A total of 12.3 metric tons of gold jewelry are available to the citizens of this country. According to data from US management firm McKinney & Company, China will occupy about 8 percent of the global luxury market by 2021.
The country has around 1.2 metric tons of gold jewelry. Gold was donated to various temples in southern India. At the Deepabali festival Dhanteras also is buying gold jewelry. In India, there is a tradition of wearing gold jewelry at weddings.
- United State
There is also a huge demand for gold jewelry among US citizens. A total of 1.2 metric tons of gold jewelry is available to US citizens.
- United Arab Emirates
There are 4 gold jewelry stores in Dubai alone. There are 1.2 metric tons of gold jewelry available to the citizens of the UAE. According to a study by Italy’s Trade Commission, the demand for gold in the UAE is increasing.
According to the World Gold Council, the demand for gold in Iran has increased by 25 percent in the last four years. Iran has a total of 1.5 metric tons of jewelry.
The citizens of Turkey have 1.7 metric tons of gold. After the creation of a metal market in this country, demand was created among the citizens. Most of the gold is deposited in the central bank of the country.
- Saudi Arabia
The citizens of Saudi Arabia have 1.5 metric tons of gold jewelry. Jewelry is more preferred to them than gold butts.
Indonesia has one of the world’s largest gold mines. Citizens of the country have 1.2 metric tons of gold.
In the last few years, jewelry made of yellow metal has not been low in the Russian Central Bank. Russia’s citizens had 1.2 metric tons of gold in 20 years.
Gold ornaments are also believed to have been found on a map made by the papyrus dating back to 400 BC. To the citizens of Egypt, all together 26.5 metric tons of gold.
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