China is rising to the first spot beating India in gold consumption, as declared by the World Gold Council. An estimate of 1,000 tons (competing India's first rank) for the whole 2013 in Gold Demand by China is possible according to WGC.

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This possible high demand for Gold of the Chinese people is due to the slow and unstable economic growth of China for the past 10 quarters. Such uncertainty of the economic standing drives the Chinese people to invest in Gold as their safe refuge for their money rather than keeping them in banks.

As for the Indians, gold related festivities and marriage month are mostly in the second half of the year. These occasions can surely boost up the demand for gold as a dowry for the Indian marriage and as a gift / offering for the gods during festivities.

As for the statistics, China may beat Indian in Gold Consumption this 2013 according to their mid-year gold buying performances. By mid-year, China already consumed 600 tons of gold, leaving India behind with just 566 tons of gold consumption. But with India's incoming marriage month the possibility of a sudden increase in sales is very possible and expected by the WGC. 

This outrageous demand for Gold by these two Asian countries did somehow managed to stabilize the price of gold in the world market by consuming the western gold outflow of almost 600 tons.

World Gold Council's Managing Director Albert Cheng said; that the 12% drop of worldwide gold demand could have been higher if not by these two country's gold consumption.

Gold demand may even reach up to 1,000 tons of gold for each country, according to the World Gold Council (WGC).