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Gold jewellery demand will remain buoyant - Jill Leyland, WGC
In an interview on SAfm @ 18:25 on 27 May 2008
[miningmx.com] -- GOLD jewellery demand will remain buoyant in spite of high prices because the markets for the commodity are economically sound, said Jill Leyland, the economic adviser to the World Gold Council.
Gold supply has been falling over recent years and a major change is not expected in that regard, Leyland said on the SAfm Market Update with Moneyweb, a week-nightly radio programme.
"We believe jewellery demand will remain buoyant because most of gold's major markets are doing very well economically," she said.
"There's been a surge of interest by investors in gold over the last few years, not just because of the recent financial crises - it's been much more long term than that, partly for economic and political reasons and partly because the ETFs have enabled more investors to access the market."
Physical demand for gold has fallen 16%, but in dollar
terms, the value of demand is up by a fifth.
"Gold's main markets are India, China, Middle East, Turkey and the US. Now, in the US obviously the consumer is under pressure, but in all the other markets the consumer is still doing very well," Leyland said.
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