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Global Demand For Gold Soars 38 Per Cent

Posted By admin On July 21, 2009 @ 3:12 am In Money Watch | Comments Disabled

Brisbane Times [1]
Tuesday, July 21, 2009

Global demand for gold soared 38 per cent in the March quarter compared with the same period in 2008, as investors banked on the metal’s safe-haven role amid tough economic conditions.

Strong investor appetite for gold countered a fall in demand for the precious metal in jewellery and industrial uses, World Gold Council investment research manager Rozanna Wozniak told a teleconference on Tuesday.

“Jewellery demand weakened, which isn’t surprising given the extreme economic conditions that consumers face: rising unemployment, falling house prices and low levels of consumer confidence,” Ms Wozniak said.

“Industrial demand also weakened. Once again, this is hardly surprising given the economic conditions.

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URLs in this post:

[1] Brisbane Times: http://news.brisbanetimes.com.au/breaking-news-business/world-gold-council-figures-seal-status-20090721-drov.html

[2] Image: http://www.efoodsdirect.com/ammo-food.html?aid=14&adid=5

[3] World Gold Council Releases Q4 And 2009 Gold Demand Trends Report: http://www.prisonplanet.com/world-gold-council-releases-q4-and-2009-gold-demand-trends-report.html

[4] Gold purchases up 36% as investors look to preserve wealth: http://www.prisonplanet.com/gold-purchases-up-36-as-investors-look-to-preserve-wealth.html

[5] Gold Vaults Charge More For Storing Bullion As Demand Soars -Report: http://www.prisonplanet.com/gold-vaults-charge-more-for-storing-bullion-as-demand-soars-report.html

[6] Demand for gold at an all-time high: http://www.prisonplanet.com/demand-for-gold-at-an-all-time-high.html

[7] World Gold Council Sees Ever Greater Demand For Gold, As “Consumers Become Accustomed To Higher Prices”: http://www.prisonplanet.com/world-gold-council-sees-ever-greater-demand-for-gold-as-consumers-become-accustomed-to-higher-prices.html

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