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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Zardoz who wrote (74008)	7/27/2001 12:07:37 AM
From: Don Green	Respond to of 116759

Gold Imports Fall To 21-Year Low Friday, July 27, 2001 TOKYO (Nikkei)--Gold imports in the January-June period fell 53% on the year to 15.1 tons due to slumping demand as an investment vehicle in the current deflationary climate, the Finance Ministry announced on Friday. The figure is the second lowest since gold imports were liberalized in 1973, behind the 12.5 tons recorded in the first half of 1980. Gold bullion for investment purposes accounts for a quarter of domestic demand, which dropped 20% on the year in January-June. "Individual investors are either stopping gold purchases or selling gold holdings in the wake of price hikes as a result of the stronger dollar," an official at the World Gold Council said. Gold demand from manufacturers, responsible for about half domestic demand, is estimated to have fallen about 30%, due to sluggish purchases from semiconductor makers amid the slowdown in the information technology sector. Demand from jewelry and accessory manufacturers rose some 20%, with preference for gold replacing platinum, whose prices have shot up. Japan's gold imports have been on a decline since peaking in 1995 at 263 tons. (The Nihon Keizai Shimbun Friday evening edition)