Indian Gold Demand Up 72% in 1H 2007

Source:

Looked at another way, Indian demand in the second quarter of this year amounted to 317 tonnes, a gain of 91% and equivalent to half global mine output in the quarter.

The latest Gold Demand Trends publication from the World Gold Council, using figures independently compiled by research house GFMS Ltd., records gold demand in the second quarter of this year at 922 tonnes, a 19% increase over demand in the second quarter of 2006. This was largely fuelled by a return to more normal levels of gold price volatility, strong economic performance in the key consuming regions and a growing acceptance by consumers of a price that averaged more than 6% above the second quarter of 2006. All these features helped to fuel this increase in demand, with the dollar value of gold demand reaching record levels...

Looked at another way, Indian demand in the second quarter of this year amounted to 317 tonnes, a gain of 91% and equivalent to half global mine output in the quarter.

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