Gold jewelry demand declined 21 percent in the first quarter of 2008 as compared to the same period in 2007, marking the lowest quarterly level on record since 1993, according to the World Gold Council's gold demand trends report for the first quarter of 2008. The sharp rise in gold prices—which reached levels above $1,000 per ounce in mid March—and unusually high volatility were key determinants in gold demand movements for the first quarter.

Read Full Story