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Wednesday, 31st May 2006 (8657 views)

Despite rising gold prices, National Jeweler reports that sales of gold jewellery in the US rose in 2005.

The new statistics released by GfK Audits and Surveys showed that dollar sales of gold jewellery grew by 4.4 per cent for the year, the strongest year-long growth rate since the turn of the century.

Gold unit sales were also up by the same margin, showing that the rises were not influenced by inflation or price hikes. The average unit price in 2005 was just over $76, with dollar sales totalling $17.7 billion.

The strongest growth within the sector appeared to be in gold bracelets, with total dollar sales increasing by 6.5 per cent. Other positive results came from the neckwear category (4.1 per cent) and earrings (5.5 per cent).

The results from the survey show that recent fears over dropping jewellery sales were unfounded in 2005, although analysts are unsure how the higher price of gold in 2006 will have affected sales by year end.

Either way, this news is a positive result for the gold industry and the findings will increase confidence in the jewellery sector in the US.

 

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