Demand for gold jewellery has fallen as high gold prices mean that creating and buying it has become incredibly expensive.
The manufacture of gold jewellery has also fallen by 23% according to some commentators.
However it’s not bad news for gold at all, gold bullion has never been more in demand, with some figures suggesting it has become 52% more in demand since last year.
The reasons for the fall in jewellery sales could be:
Investors would rather buy their gold investment in bulk – hence the move to gold bars and coins
The global recession. It is far more costly to create bespoke jewellery than it is to melt gold down into gold bars.
Customers are said to have switched to gold bars and coins because they work out cheaper.
Countries all over Asia and the Middle East have reported varying levels in the decline of demand for jewellery.
However, selling your jewellery will still benefit you greatly.
Now has never been a better time to look into selling your gold. As gold prices are so high at the moment and have risen sharply since this time last year, you are bound to make a handsome profit on your jewellery pieces.
Gold prices have shot up so much because of increased demand. Because gold is found and not created, it is a very valuable commodity indeed.
Demand for gold has increased because of:
The faltering recovery from the global recession.
Political and economic unrest – which makes people see gold as a stable investment buy.
Cultural associations with gold in Asian and Middle Eastern countries.
Even if you are not an owner of lots of gold bullion, you can still really benefit from going on a treasure hunt of your own and find some gold to sell for cash.