India, China lead gold rush

MUMBAI - Beijing becoming host to Asia's first automatic gold vending machine - in a continent where millions are yet to see the variety that spews paper cash and potato crisps - offers the latest indication of China and India being world's leading gold buyers, despite record fluctuating prices mid-September. Year-on-year consumer demand for gold in 2010-2011 grew 38% in India and 25% in China, compared with a 7% worldwide growth of gold sales. Global prices are around US$1,650 an ounce after hitting an historic high of $1,921.15 on September 6 on a 6%-plus rise since June.