Dollar demand for gold reached quarterly record of US$32bn in Q3 2008; Surge in demand from Germany and Switzerland
Nov 20th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Dollar demand for gold reached an all time quarterly record of US$32bn in the third quarter of 2008 as investors around the world sought refuge from the global financial meltdown, and jewellery buyers returned to the market in droves on a lower gold price. This figure was 45% higher than the previous record in Q2 2008.Tonnage demand was also 18% higher than a year earlier.