India overtakes China as biggest gold consumer in 2014

London

CHINA lost its place to India as the world's biggest gold consumer in 2014, sector data showed on Thursday, hit by collapsing jewellery demand after one year in the top spot.

Indian gold demand sank 14 per cent to 842.7 tonnes last year from 2013, but Chinese demand slumped 38 per cent to 814 tonnes, the World Gold Council (WGC) said in a report.