Gold demand barely slips

By Staff -- Purchasing, 9/7/2000

Total gold demand slipped a tad in the first half when compared to last year's record levels, the World Gold Council sas. The Gold Demand Trends survey shows total demand for the first six months at 1,584 tonnes, off 0.6% compared to the first half of 1999, when demand went on to set a record for the year. Purchases for gold jewelry comprised 1,396 tonnes of first half demand, 4% above the level of a year ago. "So, the strength of worldwide demand for gold during the second quarter and first half of this year is encouraging, especially in the face of continued weakness in the demand for gold as an investment," says Haruko Fukuda, CEO of the World Gold Council. Demand for gold as an investment during second quarter fell 22% to 94 tonnes.