Production of South Africa's Krugerrand gold coins soared by 50% in a week as the eurozone debt crisis drove up investor demand, according to Rand Refinery, the world's top gold refiner.

Production of the world's most popular gold coin rose to 30000oz a week, and the refinery said it would maintain this level until the end of July and could extend production at this rate should demand remain strong.

"The last time we produced this much was 25 years ago, in 1985," said Debra Thomson, the Rand Refinery treasurer. "Basically, the sovereign debt crisis in Europe is behind this. There is a lot of demand, especially from Germany; people are looking for a haven in gold."

Gold products, such as coins and bars, are traditionally a haven for anxious investors in times of economic and geopolitical crisis.

Bullion dealers also said investors were turning to gold coins to protect their nest eggs from financial turmoil.

Gold recovered from losses on Friday after data showed the US added fewer jobs than expected in May, knocking assets seen as higher risk such as stocks and lifting buying of bullion.

Spot gold was bid at $12015/oz on Friday evening against $1206.05 late on Thursday in New York, but below this week's peak of about $1230.

Thomson said Rand Refinery had manufactured, marketed and delivered more than 47 million ounces of Krugerrands since the gold coin was introduced in 1967.

Krugerrands are minted at the South African Mint from gold coin blanks supplied by Rand Refinery.

The Rand Refinery was established in 1920 by the Chamber of Mines to refine all the gold produced by South Africa's gold mines. - Reuters