Gold Demand Rose Last Year with Jewelry Remaining the Largest Sector

Gold remains firm in European session as geopolitical tensions in the Middle East and North Africa raised demand for safe-haven assets. Moreover, growing inflationary expectations make gold's inflation-hedge characteristic appealing. Currently trading at 1377, the benchmark Comex contract continues hovering around the highest level in a month. A report by the World Gold Council unveiled that global gold demand increased around +9% in 2010 with demand in all categories, except for ETF investments, rose during the period. Gold imports by India soared to a record level last year as driven by a jump in jewelry demand

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Gold Demand Rose Last Year with Jewelry Remaining the Largest Sector