Soaring gold prices subdued the consumption of jewelry around the world last year, the producer-funded World Gold Council said yesterday.

　　Gold demand in 2002 dipped 9 percent year-on-year to 3,067.4 metric tons, according to a survey conducted by the council, covering gold bars, coins and jewelry.

　　The drop was mainly due to a nosedive in jewelry consumption, an 11-percent fall to 2,726.7 metric tons.

　　"Jewelry demand was low following a dramatic rise in prices and because the main markets - Europe and the United States - were still suffering from economic recession," said Wang Lixin, the council's manager in charge of China business.

　　Gold price skyrocketed by one-fourth last year to nearly US a troy ounce amid hefty buying brought about by post-September 11 war jitters in some parts of the world, such as Japan and India.

　　Gold demand for retail investment slipped by a smaller 2.4 percent to 340.7 tons. "Investment in gold, a major attraction for inves-tors in a war situation, remained stable last year," Wang said.

　　Demand for the yellow metal in China, the world's third-largest consumer, declined 1.6 percent to 202.3 metric tons last year, according to the report.