Jewellery, US dollar drives gold

STRONG consumer demand continues to underpin the gold market, helping the price of the precious metal hit a seven week high overnight at $US435 an ounce.

Jewellery, US dollar drives gold Jewellery, US dollar drives gold Jewellery, US dollar drives gold Jewellery, US dollar drives gold Jewellery, US dollar drives gold

In two separate developments, the World Gold Council in London said jewellery demand jumped by 7% in 2004, while on the markets gold was pushed higher by freshly enthusiastic metal traders.

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