Demand for gold slows

Demand for gold fell 3% to 764 tons in the second quarter as the global economic slowdown took its toll on sales in Europe, Southeast Asi,a and Latin America, according to figures from the World Gold Council.

Over the six months to June 30 sales of gold rose 1% to 1,601 tons, held up by a 6% rise in the first quarter. Jewelry demand remained stronger than personal investment. UK jewelry demand rose to 16.1 tons, a 9% increase from 2000.

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