Global demand for gold jewellery reach $14.5 billion in Q2
17 Aug 2007
Mumbai: Global demand for gold jewellery showed the strongest surge, reaching a record $14.5 billion, 37 per cent higher than Q2 2006, with particular strength across the key gold markets of Greater China, India, the Middle East and Turkey, according to Gold Demand Trends, released by the World Gold Council (WGC).
Dollar
demand for gold in the jewellery, retail investment and
industrial sectors all reached new heights in the second
quarter of 2007, the report said
In volume terms, India, the world''s largest gold market, achieved all-time records in both jewellery and retail investment. Turkey achieved second-quarter records for both categories while Russia recorded its highest ever level of jewellery demand.
The
figures, compiled independently for WGC by GFMS Ltd, showed
that identifiable gold demand made a further substantial
recovery in Q2 2007 from the impact of the volatile prices
experienced in 2006, rising 19 per cent in tonnage terms
on Q2 2006 to 922 tonnes, and reaching $19.8 billion,
a 27 per cent increase, in value terms year-on-year.