SurveysApr 24, 2026
Mother’s Day 2026 Jewelry Spending to Top $7B, NRF SaysNRF’s annual survey found that 45 percent of consumers plan to purchase jewelry for a loved one this Mother’s Day.
MajorsNov 02, 2020
Q3 Gold Jewelry Demand Slips 3% in US
But the market was relatively resilient compared with the rest of the world, where demand remains 'in the doldrums,' the WGC says.
Gold jewelry demand was down 3 percent in the U.S. in the third quarter as the effects of the pandemic are ongoing. Seen here are a pair of 18-karat yellow gold hoops from Roberto Coin.
London—The COVID-19 pandemic continues to have a negative effect, unsurprisingly, on gold jewelry demand.
According to the World Gold Council’s Gold Demand Trends report for Q3, demand lifted from its record low in the second half, but was still “in the doldrums,” hampered by the global economy and high gold prices.
According to Kitco, gold peaked at $2,067.15 per ounce in August before slowing down, averaging a per-ounce price of $1,900.27 in October. It started the year at $1,560.67 per ounce (average) in January.
Global jewelry demand was at 333 tons in the third quarter, registering its third-lowest quarterly total in WGC’s data going back to Q1 2001 and representing a 29 percent decrease over the same period last year.
Comparing in value terms is “less stark,” WGC said, noting Q3 jewelry demand was at $20.4 billion, only an 8 percent decrease year-over-year.
The lift it did have over the second quarter was due to most markets seeing at least some relaxation in the strictest lockdown measures, according to the report, with some also seeing a notable shift toward online shopping.
Meanwhile, gold jewelry demand year-to-date totaled just 904 tons, the lowest in the council’s data series “by some margin”—it’s a 30 percent decease compared with the same period in 2009, when demand was 1,292 tons.
WGC said though China and India were major contributors to the global weakness because of their significance to the market, weakness was universal, with “no bright spots of note.”
The U.S., however, proved to be “relatively resilient” compared with global markets, posting a small decline of 3 percent year-over-year in the third quarter.
In-store demand was still “anemic” in the third quarter as consumers avoided shops and malls; online sales picked up a lot of that loss, WGC added.
Meanwhile, as China returned to a more normal state post-lockdown in the third quarter, jewelry demand continued its recovery from Q1 lows but stayed very soft compared with the same period in 2019.
The region’s gold jewelry demand was 119.1 tons in Q3, representing a 31 percent rebound from Q2. And though it marked a 25 percent year-over-year decline, the gold council said it was still much smaller than the 52 percent drop in H1 demand.
RELATED CONTENT: Gold Passes $2K Per Ounce as Jewelry Demand Plummets
Year-to-date demand in China hit 271 tons, a 43 percent decrease over the first nine months of 2019.
Editors' Picks
Sponsored by
Indian jewelry demand, meanwhile, began a modest recovery from its Q2 record low in the third quarter, though the level still was well below what it saw in 2019.
Gold jewelry demand in the region was 48 percent lower year-over-year at 52.8 tons, which WGC said was the third-lowest quarter for Indian jewelry demand in its data series.
Consumers there not only were coping with recurring lockdowns and their heavy economic impact as well as unprecedented gold prices, but also the timing of two Hindu celebrations in September being considered inauspicious for gold buying.
Demand was also weak in Turkey and across the Middle East as well as in Europe, where gold demand decreased 17 percent compared with the year-earlier period. But Europe’s Q3 results also meant a 32 percent quarterly improvement, reflecting a release in pent-up demand as lockdowns eased.
Demand for gold overall dropped to 892.3 tons in the third quarter—its lowest quarterly total since Q3 2009—as the global pandemic continued to effect consumers and investors alike.
At 2,972.1 tons, year-to-date demand is 10 percent below the same period of 2019.
Supply was also down in Q3, declining by 3 percent year-over-year to 1,224 tons.
Mine production also decreased by 3 percent to 884 tons as the industry continue to suffer from COVID-19 restrictions, though the World Gold Council noted it still marks a substantial recovery over Q2.
Year-to-date, total supply was down 5 percent over the same period in 2019 due to disruption from the pandemic.
Gold jewelry demand in the region was 48 percent lower year-over-year at 52.8 tons, which WGC said was the third-lowest quarter for Indian jewelry demand in its data series.
Consumers there not only were coping with recurring lockdowns and their heavy economic impact as well as unprecedented gold prices, but also the timing of two Hindu celebrations in September being considered inauspicious for gold buying.
Demand was also weak in Turkey and across the Middle East as well as in Europe, where gold demand decreased 17 percent compared with the year-earlier period. But Europe’s Q3 results also meant a 32 percent quarterly improvement, reflecting a release in pent-up demand as lockdowns eased.
Demand for gold overall dropped to 892.3 tons in the third quarter—its lowest quarterly total since Q3 2009—as the global pandemic continued to effect consumers and investors alike.
At 2,972.1 tons, year-to-date demand is 10 percent below the same period of 2019.
Supply was also down in Q3, declining by 3 percent year-over-year to 1,224 tons.
Mine production also decreased by 3 percent to 884 tons as the industry continue to suffer from COVID-19 restrictions, though the World Gold Council noted it still marks a substantial recovery over Q2.
Year-to-date, total supply was down 5 percent over the same period in 2019 due to disruption from the pandemic.
More on Majors
The Latest
TechnologyApr 24, 2026
TwentyFour’s Digital-Age Locket Is a Virtual VaultThe “Vault” charm, our Piece of the Week, expands on the memories that can be stored in a locket by connecting to your phone.
Events & AwardsApr 24, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
IndependentsApr 23, 2026
Meet the Real Moms of Day’s JewelersThe jeweler’s Mother’s Day campaign highlights the women who work there—mothers, grandmothers, women who want to be mothers, and dog moms.
Weekly QuizApr 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Supplier BulletinApr 23, 2026
JM® Shipping Solution: Smarter Shipping for High-Value GoodsSponsored by Jewelers Mutual
Lab-GrownApr 23, 2026
Charles & Colvard May Sell Assets for $1.5MThe proposed agreement follows the moissanite maker’s Chapter 11 bankruptcy protection filing last month.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
AuctionsApr 23, 2026
John Jacob Astor IV’s Titanic Pocket Watch Fetches $1MThe Patek Philippe for Tiffany & Co. timepiece Astor brought aboard the ill-fated ship sold for double its estimate at a Freeman’s auction.
CollectionsApr 23, 2026
Adam Neeley’s High Jewelry Collection Steps Into Salvador Dalí’s GardenThe “Dalí’s Garden” collection was inspired by a surreal dream Neeley had after cooking a recipe from Salvador Dalí’s 1973 cookbook.
IndependentsApr 23, 2026
Windsor Jewelers Names New Buying DirectorNatalie Feanny has been appointed to the role.
CrimeApr 22, 2026
New Mexico Couple Pleads Guilty to Selling Fake Native American JewelryThe pair falsely claimed their jewelry was made by Navajo artists, but it was imported from Vietnam.
AuctionsApr 22, 2026
Roberta Flack’s Jewelry Is Going Up for AuctionJulien’s Auctions is selling the musician’s fine and fashion jewelry alongside her clothing, gold records, and other memorabilia.
CollectionsApr 22, 2026
British Museum Curator Pens Book on ‘The Tudor Heart’Rachel King’s book dives into the history of the pendant believed to have belonged to Henry VIII and his first wife, Katherine of Aragon.
Events & AwardsApr 22, 2026
Here’s What Sy Kessler Has on Tap for Las Vegas The company will have deals on precious metals testers as well as the latest in lab-grown diamond detection technology and security.
WatchesApr 21, 2026
Coco Chanel Enters the Game with New Watch CollectionGabrielle “Coco” Chanel is a character in the “Coco Game” collection of watches and the queen in its first haute horlogerie chessboard.
IndependentsApr 21, 2026
Meet Jewelers of America’s 2026 ‘20 Under 40’ ClassThe annual list honors rising professionals on the retail and supply sides of the jewelry industry.
CrimeApr 21, 2026
Customs Nabs 1,500 Pieces of Counterfeit Jewelry Bound for NYCSeized in Kentucky, the packages include fake Cartier, Tiffany & Co., Chanel, and Fendi jewelry.
CrimeApr 20, 2026
Queens Man Convicted in Bludgeoning Death of Pawn Shop OwnerRodolfo Lopez-Portillo faces 25 years to life in prison after being found guilty in the March 2022 beating death of Arasb Shoughi.
TrendsApr 20, 2026
Beth Bernstein, Sonia Esther Soltani Pen New Jewelry Book“Jewelry Creators: Dynamic Duos and Generational Gems” highlights the relationships among 22 influential designers, brands, and gem dealers.
Events & AwardsApr 20, 2026
Atlanta Jewelry Show’s Spring Event Is Hitting the RoadThe AJS Spring 2027 show will be held in Savannah, Georgia, with future shows taking place in other Southeast cities.
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
MajorsApr 16, 2026
Stuller’s Latest Mountings Catalog Is Out NowThe “Mountings 2026-2027” catalog showcases Stuller’s largest and most diverse assortment to date with more than 400 new mounting styles.
