Gold remains precious as global demand hits record

 Global demand for gold in 2011 rose to 4,067 tonnes worth an estimated $205.5 billion — the first time that global Demand has exceeded $200billion and the highest tonnage level since 1997, according to the World Gold Council’s (WGC) Gold Demand Trends.

The main driver for this increase was the investment sector where annual demand was 1,640.7 tonnes up 5 per cent on the previous record set in 2010 and with a value of $82.9 billion. The pre-eminent markets for investment demand in 2011 were India, China and Europe.

China and India remain the cultural heartlands of gold, generating 55 per cent of global jewellery demand and 49 per cent of global demand, the WGC said in a report....more