China routinely uses the most gold. Culture, jewelry, and gold bar and coin investment boost its demand.
Gold jewelry and decorations have long been popular in India. Weddings, festivals, and personal ornamentation boost the country's gold demand.
The US buys gold for jewelry and investment. Americans buy gold bars, coins, and jewelry as a hedge against inflation and a store of wealth.
Germany demands gold, especially investment items. During economic uncertainty, investors desire gold's stability and security.
Gold demand in Russia has grown significantly. Gold demand is high as the nation diversifies its foreign reserves by buying more of it.
Weddings, festivals, and cultural rituals have fuelled gold consumption in Turkey. Turks still like gold jewelry because it symbolizes riches and success.
The Middle East, especially the GCC, loves gold. Gold is culturally significant, thus locals want gold jewelry and investment items.