Gold demand continued to increase in the second quarter of 1999, according to a report from the World Gold Council.
Total demand in 27 markets was 809.5 tonnes, up 16% over the second three months of 1998 and a new record. Jewelry demand in the second quarter was up 13% between the two periods to 686.4 tonnes. Investment demand rose 32% to 123.1 tonnes.
Overall demand records were set in India, the U.S., the Gulf states and Mexico. There was continued recovery in Southeast Asia and South Korea, with demand rising to more than 90% of levels recorded before the economic crisis in that region.
Demand was also higher in the Middle East, while Japan showed continuing recovery.
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