Gold price set for biggest weekly jump in 13 months on haven demand
The precious metal has surged around 30% so far this year, supported by healthy central bank buying.
Dollar demand for gold reached an all time quarterly record of $32 billion 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. (more…)
