India regained its top position replacing China as the biggest overall consumer of gold in the first nine months of year 2015. India consumed a total of 642 tonnes of gold in this period and china is lagging behind by just 63 tonnes with total consumption of 642 tonnes in first nine month of the year. GFSM survey was released on 17th October 2015.

In context of Global mine production; the survey said that production remained broadly flat in Q3, as it was up by less than 1 percent year-on-year, with production provisionally estimated at 851 tonnes.

Survey says that jewellery consumption in India increased by 5 percent year-on-year to an estimated 193 tonnes in Q3 2015. It was the highest quarterly consumption since Q1 2011. Q3 consumption was also the highest third quarter demand since 2008.  The total official gold imports to India in the third quarter increased by 23 percent to 263 tonnes, which is the highest quarterly volume year-to-date.

Review and Outlook. In context of Global mine production; the survey said that production remained broadly flat in Q3, as it was up by less than 1 percent year-on-year, with production provisionally estimated at 851 tonnes.