Investment demand for gold sets first-half record

Global investment demand for gold soared to a record for the first six months of this year, as investors sought a safer place to park their money against a backdrop of political and economic uncertainty, according to a report Thursday from the World Gold Council.

For the first half the year, investment demand for gold, which includes bars and coins and demand from exchange-traded funds, reached 1,063.9 metric tons. That was up 16% from the previous first-half-of-the-year record in 2009 and accounted for almost half of the overall gold demand during the first six months of 2016, the WGC said.

Total gold demand, which includes the metal used in jewelry manufacturing and the industrial sector, reached 2,335 metric tons in the first six months of the year.

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