China's demand for gold is set to rise by about 20 per cent over the next few years, the World Gold Council estimates, as the population becomes wealthier.
The council says private sector demand for gold will rise to at least 1,350 ton by 2017. Chinese customers bought 1,132 ton of gold last year, in jewelry as well as gold bars and coins for investment.
Let's take a look at 10 biggest gold consumers in the world in 2013.
No 10 United Kingdom
Gold consumption: 23.4 tons
United Kingdom, one of the biggest financial powerhouses in the world, consumed more than 23 tons of gold in 2013.
No 9 Egypt
Gold consumption: 57.3 tons
Egypt, which is going through political turmoil, consumed more than 57 tons of gold in 2013.
No 8 Indonesia
Gold consumption: 68 tons
Indonesia, one of the fastest growing economies in Asia, consumed 68 tons of gold in 2013.
No 7 Saudi Arabia
Gold consumption: 72.2 tons
Saudi Arabia, which has the biggest oil reserves in the world, consumed more than 72 tons of gold in 2013.
No 6 Russia
Gold consumption: 73.3 tons
Russia, which has one of the highest gas reserves in the world, consumed more than 73 tons of gold in 2013.