|
RAPAPORT... The World Gold Council reported that demand for gold surged in second quarter of 2007 due to increased jewelry purchases in China and India. In total, demand for gold rose 27 percent to $19.8 billion for the three months ending June 30, 2007.
"Dollar demand for gold in the jewelry, retail investment and industrial sectors all reached new heights in the second quarter of 2007," the group reported. Gold demand in these categories hit $14.5 billion, an increase of 37 percent.
India registered record high demand for gold across both the jewelry and investment sectors.
James Burton, chief executive of the World Gold Council, said, "I am pleased to note that the dollar value of gold demand has more than doubled in just four years."
|