Gold Demand Hits New Records as Europeans Stockpile

Friday, February 17, 2012
By Paul Martin

By: Catherine Boyle
CNBC.com

Demand for gold hit an all-time high in 2011 as European, Indian and Chinese demand soared.

n Europe, Germany and Switzerland were the main drivers of the growth as the euro zone debt crisis escalated and investors looked for safe havens, according to the World Gold Council’s annual report.

While the jewelry market was resilient, the gold investment market grew more, with a 5 percent increase in annual demand.

Total demand around the world rose to 4,067 metric tons, worth around $206 billion—the first time annual demand for gold has risen above $200 billion

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