
Gold demand rose 10 percent in the third quarter from the previous three months in tonnage terms, as the record-breaking metal won support from its safe-haven status, the World Gold Council said.
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Gold demand rose 10 percent in the third quarter from the previous three months in tonnage terms, as the record-breaking metal won support from its safe-haven status, the World Gold Council said.
The price of gold, which recently shot to a record high above 1,070 dollars, has a bright future thanks to improving demand caused by the financial crisis, industry experts said.
India's gold sales for the Dhanteras festival could have risen up to 30 percent from a benchmark, as consumers expecting the near-record prices to rise further bought freely.
Some large Indian jewellers and traders have started selling imported gold and silver coins, ahead of big festivals, raising competition for banks in a fast expanding investment segment, industry players said.
Gold jewellery sales in Dubai fell around 30 percent in August, compared with a year earlier, as high gold prices and an economic downturn deterred buyers.
U.S. gold demand in the second quarter rose 10 percent year-over-year as nearly doubled investment demand offset weaker jewelry buying, according to an industry report by the World Gold Council.
World gold demand fell 9 percent in the second quarter to 719.5 tonnes as rising prices and the impact of the global recession curbed jewellery consumption, the World Gold Council said.
Gold jewellery sale volumes in Dubai fell around 40 percent in July on a year ago, as the economic downturn and summer heat deterred tourism.
Gold jewellery sales in Dubai are down around 30 percent in June on a year ago, as high prices of the metal and the economic downturn deter tourists from visiting the emirate.
One of Asia's leading jewelry firms is hoping gold and diamonds will remain a girl's best friend, even in a recession, as the manufacturer and wholesaler launches its own deluxe retail brands.