Global demand for gold soared 38 per cent in the March quarter compared with the same period in 2008, as investors banked on the metal's safe-haven role amid tough economic conditions.
Strong investor appetite for gold countered a fall in demand for the precious metal in jewellery and industrial uses, World Gold Council investment research manager Rozanna Wozniak told a teleconference on Tuesday.
"Jewellery demand weakened, which isn't surprising given the extreme economic conditions that consumers face: rising unemployment, falling house prices and low levels of consumer confidence," Ms Wozniak said.
"Industrial demand also weakened. Once again, this is hardly surprising given the economic conditions.
