Keith Rolfe, CFO and COO of Lagos, is now at the jewelry brand’s helm while Steven takes on the role of executive chairman.
Demand for gold jewelry up slightly in the US
It rose 4 percent to 22.4 tons in the period, up from 21.5 tons in the first quarter 2014, the fifth quarter in a row that demand has increased.

London--Demand for gold jewelry in the United States continues to inch up just a bit every quarter, the World Gold Council’s Gold Demand Trends report for the first quarter shows.
U.S. demand for gold jewelry rose 4 percent to 22.4 tons in the period, up from 21.5 tons in the first quarter 2014, the fifth quarter in a row that demand has increased.
Specifically, U.S. consumers continued to go for higher-carat jewelry but were cautious in their spending.
The WGC said while gold jewelry imports to the U.S. also increased in the first quarter, a sign the trade is stockpiling for sales in the second half of the year, the general mood is one of guarded optimism, with a mix of factors coming into play.
The report states of the U.S. market, “Rising household wealth and economic growth provide support, but conservative consumer attitudes toward spending and a general lack of innovation in the design and market are potential headwinds.”
A market where jewelers struggled for years to sell gold, especially during the economic downturn, the U.S. has seen jewelry demand increase year-over-year in eight of the last 10 quarters, with the only declines coming in the third and fourth quarters of 2013.
It was a “pocket of strength” in the first quarter, a quarter in which global gold sales fell and one that was “generally quiet” worldwide for gold demand as a whole, the WGC said.
Globally, demand for gold--counting jewelry, technology and investment sectors--fell 1 percent year-over-year in volume terms in the first quarter.
Demand for gold jewelry was down 3 percent, including a 10 percent drop in China where buying for the Chinese New Year was “restrained,” the report states.
The average price of gold was down 6 percent compared to the same time a year ago, dropping from $1,293.10 to $1,218.50 per ounce, but is up slightly from the fourth quarter when it averaged $1,201.40 an ounce.
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