Home China Headline Gold demand up one percent as high prices hit jewelry sales

Gold demand up one percent as high prices hit jewelry sales

Demand for gold inched up one percent last year as jewelry sales slowed due to rising prices. Gold demand was 294.5 tons last year in China, including Hong Kong and Taiwan, the World Gold Council said late yesterday. The figure also includes investment in jewelry and bullion. Gold investment gained 29 percent last year to 19.1 tons while jewelry demand dropped one percent to 275.4 tons, the council said. Big fluctuations On the mainland, gold jewelry and investment demand both gained while the figures in Hong Kong and Taiwan dipped. Mainland gold demand gained 2.6 percent to 259.6 tons in 2006. Gold prices surged to more than US$720 in the second quarter of last year and experienced wide fluctuations in the third quarter, dampening gold jewelry sales. Gold prices rising at a steady pace will help boost demand, industry watchers said. Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Show/Hide comments Write comment Show/Hide comment form Name Email Website Title Comment Write the displayed characters Add Comment Copyright 2007. All Rights Reserved.

 

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