Wednesday, February 18, 2009
FROM MARKET WATCH THIS MORNING 2/18/09
Gold demand surpasses $100 billion last year: WGC
By Moming Zhou
Last update: 9:08 a.m. EST Feb. 18, 2009Comments: 3
NEW YORK (MarketWatch) -- Demand for gold surpassed $100 billion last year for the first time ever on increased industrial and jewelry consumption and as investors bought into the metal as a safe haven, the World Gold Council reported Wednesday. Gold demand, including jewelry consumption, industrial demand, and identifiable investment such as bars, coins, and gold exchange-traded funds, hit $102 billion in 2008, up 29% from a year ago. In tonnage terms, gold demand rose 4% to 3,659 tons, the WGC said.
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