Gold Jewellery Demand reaches $55.5 Billion in Q3 2010

The World Gold Council (WGC) reported that global jewelry demand totaled 1,468.2 tonnes during the first nine months of 2010, an 18 percent jump from 2009. Jewelry demand totaled $55.5 billion during the first three quarters of 2010, equal to the $55.5 billion spent globally on gold jewelry for the entire year of 2009. Growth was tremendous for India, up 73 percent, and demand rose strongly from Hong Kong, Russia, and China. U.S. gold jewelry demand was flat.