Thailand was the 7th largest consumer of gold in the world in 2011. [flickr.com]
Year on Year Change: 57 percent
Thailand was the 7th largest consumer of gold in the world in 2011. As a country where gold is culturally tied with wealth and prosperity, its total demand rose 57 percent from only 69.4 tonnes in 2010 to 108.9 tonnes in 2011. However, jewelry demand shrank by 34 percent to 4.1 tonnes in 2011, its worst slump in the South East Asia region. In contrast, its total bar and coin investment surged by 66 percent to 104.8 tonnes due to positive price expectations.