Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.
US gold demand grows for fifth straight quarter
U.S. demand for gold jewelry rose 15 percent year-over-year in the second quarter, topping growth in Eastern markets that typically are more robust.
London--U.S. demand for gold jewelry rose 15 percent year-over-year in the second quarter, topping growth in Eastern markets that typically are more robust.
Consumer demand for gold in the United States totaled 26.1 tonnes (also known as a metric ton, which is 2,204.6 pounds) in the second quarter up from 22.7 tonnes in the second quarter 2013, the World Gold Council’s Gold Demand Trends report shows.
In value terms, demand rose 5 percent, with the price of gold down 9 percent year-over-year.
The average price of gold was $1,414.80 in the second quarter 2013 but dropped to $1,288.40 over the course of a year. As of Thursday afternoon, gold was at $1,314 an ounce, according to Kitco.com, only 2 percent higher than the second quarter average.
Analysts have said they don’t expect much fluctuation in the metal’s price for the rest of 2014.
RELATED CONTENT: Metal prices expected to remain relatively steady
The U.S. continues to absorb more gold imports from India, China and Italy, and confidence is growing both in the supply chain, which is aided by higher margins, and among consumers who “continue to feel the benefits of an improving domestic economy,” the WGC said.
Consumer demand growth in the U.S., as well as other Western markets with the exception of Italy, outpaced growth in Asian and Middle Eastern countries, which experienced double-digit declines in demand.
Sharp declines in these key markets caused global demand for gold jewelry to sink 30 percent in volume terms and 36 percent in value terms year-over-year.
Still, global demand for gold jewelry, “seems to be extending the broad upward trend from the base established in the depths of the financial crisis in early 2009,” the WGC said.
The report also notes that the recycling of gold in the second quarter hit its lowest point since the first half 2007, and is returning to a level not seen since before the recession, when prices soared and cash-poor consumers rushed to sell their gold jewelry.
After experiencing a boom during the downturn, scrap dealers in the U.S. as well as in the United Kingdom have seen business slow in the last year or two, and many have shuttered their doors.
The WGC said it expects gold recycling to continue its decline, as consumers who needed to sell their gold already have done so and prices today are lower and
The Latest

The best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.

This year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

“The Jewelry Book” comes out this September.


The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

AGS also named the recipient of its “Women in Leadership” scholarship.

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.

Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.

The “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.

The event is set for May 16-19 in Detroit, Michigan.

The Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.

Agents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.

The designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.

The trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.

The organization has also announced this year’s slate of judges.

Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.

Lori Tucker started at Williams Jewelers when she was 18 years old.

The “Marvel | Citizen Zenshin” watch is crafted in Super Titanium and has subtle nods to all four “Fantastic Four” superheroes on the dial.

The “XO Tacori” collection was designed to blend luxury and accessible pricing.

Pritesh Patel, the lab’s chief operating officer, will take over as president and CEO of GIA.

National Jeweler and Jewelers of America discuss the standout jewelry trends and biggest news to emerge from the shows this year.

Signatories to the “Luanda Accord” committed to allocating 1 percent of annual diamond revenue to the Natural Diamond Council.