U.S. demand for gold jewellery on the rise despite worldwide decline

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As worldwide demand of gold jewellery has decreased, U.S. demand has grown, according to the World Gold Council’s new report. WGC’s Alistair Hewitt, head of market intelligence, credits lower prices and consumer confidence growth, as well as a rising fashion trend for yellow gold, for the increased demand in the U.S. Growth in the U.S. for gold jewellery has continued for the last five quarters, with four of the quarters showing growth in the double-digits.

Worldwide demand had a 30 per cent drop, however, with the U.K. seeing a 21 per cent increase.

“2013 was an incredible moment for the gold industry,” he told JCK Online. “We saw the gold price fall, and we saw people in the physical space respond to the lower price environment with an incredible degree of enthusiasm. There was a frenzy of buying in some locations, which was especially acute in Asian markets.” CJ

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