Gold investment demand hit 35-year high in 2002--CPM

Newswire

NEW YORK, April 29 (Reuters) - The sharp rise in gold prices in 2002 boosted world investment demand to a 35-year high, but gold's greater value last year reduced fabrication demand, precious metals research firm CPM Group said Tuesday. In its Gold Survey 2003, CPM reported that investors bought 26.9 million ounces of gold bullion during 2002. That was the most in any year since 1967, more than doubling the 10 million ounces purchased on a net basis the year before. But the use of gold ...

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