Despite a sharp drop in jewelry demand and record mine production, global gold demand and prices hit record highs in the second quarter, the World Gold Council said in its latest survey of demand trends for the precious metal. Global demand for the precious metal rose 4% year-on-year to its highest second quarter on record, and the London Bullion Market Association gold price jumped 18% year-on-year to a record quarterly average $2,338 per ounce, the industry group said. Gold mining companies took advantage of the record gold price by increasing production by 3% year-on-year, the council said….