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Thursday, 23rd August 2007 (4426 views)

Demand around the globe for gold jewellery has reached $14.5 billion (£7 billion) it has been revealed.

World Gold Council figures show that this demand is an increase of 37 per cent compared to the second quarter of 2006.

According to the Jewellers Circular Keystone, there was a particular growth trend reported in China, India, Turkey and the Middle East.

"We are pleased to report a very strong second quarter with demand for gold reaching unprecedented levels in a number of markets," commented James Burton, WGC chief executive officer.

In China, the Year of the Golden Pig was cited as one factor impacting on increased gold demand in China which rose by 32 per cent.

Reuters reports that there has been a "physical demand" for gold in India and the Middle East, particularly jewellery.

 

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