19
May
Gold Demand Rose 11% in Quarter on Investment
19 May 2011 Bloomberg.com
Gold demand rose 11 percent in the first quarter as China helped boost investment and jewelry usage, while demand will remain “firm” throughout this year, the World Gold Council said.
Global demand gained to 981.3 metric tons in the quarter, compared with 881 tons a year earlier, the London-based industry group said today in a report. China’s consumption surged 47 percent in the quarter and may double before 2020 as the growing population’s wealth increases and near-term concerns about faster inflation spur investment, the council predicts.
