Investors want safety of gold

| 20/08/2009

(Independent): Demand for gold among investors is still running 46 per cent higher than last year, despite signs of recovery in economies across the world. But overall demand for the yellow metal dipped by 9 per cent in the second quarter, compared with the same period in 2008, as the high price continued to squeeze jewellery purchasing, according to the World Gold Council (WGC). Gold markets rocketed last year as the global economic crisis tore a hole in most other commodity prices. Although both jewellery demand and industrial activity stalled, investors who were spooked by the teetering banking system flocked to gold as a safe haven.

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