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WGC figures show more people are Investing in Gold

An increasing number of people are Investing in Gold, a report conducted by the World Gold Council (WGC) suggests.

Overall demand for the yellow metal hit 1,016 tonnes in the first quarter of 2009, which represents a 38 per cent increase on the figure seen the year previously.

Meanwhile, the first three months of the year saw Gold Investment demand reach 596 tonnes, representing a 248 per cent rise on 2008 levels.

This reflects the impact of the economic downturn on gold demand, as while interest in gold jewelry has declined investors are increasingly turning to the commodity as a way of protecting their assets.

That said, demand for gold jewelry in China actually increased over the period by three per cent, providing an insight into the national economy.

"This reinforces the view that China's economy, although unquestionably suffering from a sharp deceleration, nonetheless remains resilient," the WGC said.

According to Mark King from CompaniesAndMarkets.com, Chinese people are investing in gold as well as buying gold jewelry.

"Under the circumstances of unprecedented international financial crisis, economic depression and the worries about the inflation in the future, the investors recognized the advantages of possessing gold, reproving the core investment feature of the gold support value," he said.

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