Last Updated :
22 July 2009 at 21:50 IST
Gold demand up by 38%
LONDON (Commodity Online): Even though demand for jewellery has come down during the recession, the world bullion market witnessed a surge in demand from investors in the March quarter.
According to media reports, global demand for gold soared 38 per cent in the March quarter, compared to the corresponding period in 2008, as investors banked on the precious metal’s safe haven role.
Experts said jewellery demand weakened, which isn’t surprising given the extreme economic conditions that .consumers face: rising unemployment, falling house prices and low levels of consumer confidence
Industrial demand also weakened due to the recession. The biggest driver in that sector was electronics demand.
However, investment demand easily offset weakness in the other two sectors.
Some analysts believe ongoing economic uncertainty will underpin a return to a record gold price of more than $1,000 an ounce in 2009/10.
MCX CARBON CREDITS 14 December 2012
contract was trading at
Rs 562 , down Rs. -53 . What's your view on it?
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