Switzerland was the 6th largest consumer of gold in the world in 2011. [premiumswitzerland.com]
Year on Year Change: 25 percent
Switzerland's annual demand rose 25 percent from 92.7 tonnes in 2010 to 116.2 tonnes. In the 4th quarter of 2011, the country's demand was 30.7 tonnes, up by 17 percent from 26.2 tonnes a year earlier. Investment in gold bars and coins was fueled by soaring gold prices and the European debt crisis, according to the WGC. Most notably, the surge in demand in Europe was driven mainly by Germany and Switzerland.