India witnessed 84 per cent increase in gold demand for the fourth quarter of 2008, proving it as a safest heaven for investment after the plunge of share market and low interest rate regime following global financial crisis.
Gold demand surged to 147.2 tonnes in the fourth quarter in 2008 from 80 tonnes a year earlier, as per data collected by Gold Fields Mineral Services, an independent consultancy, for the World Gold Council (WGC).