Global Gold Jewelry Demand Strong in Asia while Weak in U.S., Europe and Middle East

Gold Jewelry demand increased 7 percent, year-over-year, to 556.9 tons in the first quarter of 2011, which translates to a record value of $24.8 billion, the World Gold Council said Thursday. India and China, the two largest markets for gold jewelry, together accounted for 349.1 tons or 63 percent of the total, $16 billion by value. In the U.S., gold jewelry demand declined 10 percent to 20.5