Demand for gold hits record high

Click to follow
THE SLUMP in the gold price in the wake of Britain's announcement it was selling 415 tonnes of reserves helped drive up demand in the second quarter to a record high.

Total demand in 27 markets covered by the World Gold Council rose 16 per cent from a year ago to 809.5 tonnes, a second-quarter record.

WGC analyst Tom Butler said the recovery in South-east Asia and a 32 per cent rise in investment purchases had also buoyed demand.