Demand for gold jewelry is mixed
(PresseBox) - In short, in India the demand for gold jewelry is high, while in China it is weakening.
China and India are the most important markets when it comes to sales of gold jewelry. In the second quarter of 2022, demand from the jewelry industry rose to a good 484 tons of gold compared with 456 tons in the same quarter of the previous year - an increase, in other words. The development in the two most important markets was very different. In China, demand fell by almost 30 percent year-on-year due to strict pandemic regulations. The Indians, on the other hand, saw demand rise by almost 49 percent. In 2020, gold jewelry demand slumped worldwide due to corona. However, a recovery set in as early as 2021, with jewelry production rising by 67 percent. Especially in the fourth quarter of 2021, more jewelry passed over the counter than at any time since 2013. Demand for bars and coins also rose sharply, as did purchases by central banks.
So in 2022, India has overtaken China in the purchase of gold jewelry. China has suffered and continues to suffer from the sealing off of major cities caused by the pandemic. However, trends can also be identified in China that could attract more younger buyers to gold jewelry. These are new directions in design, shape, personalized designs or color. Well-known designers and especially 18-karat gold jewelry are popular. Perhaps, also in view of the high ongoing inflation rate, there is more gold jewelry under the tree at Christmas, who knows, after all, gold has the value retention factor.
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Current corporate information and press releases from Sierra Madre Gold and Silver (- https://www.resource-capital.ch/en/companies/sierra-madre-gold-and-silver-ltd/ -) and Fury Gold Mines (- https://www.resource-capital.ch/en/companies/fury-gold-mines-ltd/ -).
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Datum: 24.10.2022 - 02:08 Uhr
Sprache: Deutsch
News-ID 669699
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