UPDATE 1-Gold investment demand hit 35-year high in 2002-CPM

Newswire

(Adds details, gold prices) NEW YORK, April 29 (Reuters) - The sharp rise in gold prices in 2002 boosted global investment demand for the yellow metal to a 35-year high, but cut its use in fabricated products, precious metals research firm CPM Group said on Tuesday. In its Gold Survey 2003, CPM reported that investors bought 26.9 million ounces of gold bullion on a global net basis during 2002. That was the most in any year since 1967, more than doubling the 10 million ounces purchased ...

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