The global economic meltdown has propelled a surge in demand for gold jewellery, bars and coins that the demand for the yellow metal has risen to touch 3,659 tons, says a new report from the World Gold Council (WGC).

The Gold Demand Trends, compiled for WGC by GFMS Limited said that investment demand for gold, including gold exchange traded funds (ETFs), bars and coins, was 64% higher in 2008 than in 2007.

This is why the IMF's plan to sell about 400 tonnes is laughable.

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