Gold Demand Touches 736.74 Tonne In 97

Demand for gold in India grew by 45 per cent in 1997 to 736.74 tonne from 507.76 tonne the previous year, the World Gold Council (WGC) said on Monday. It also said in a statement that official imports of gold rose sharply by 88 percent to 526.45 tonne. A combination of factors had led to this phenomenal growth in demand for gold in India, said Rolf Schneebeli, head of WGC in the Middle East and India. Gold has been available at a bargain price for the last few months, and that has made it an excellent buy for Indians who see it as a safety net. he added. Reuters