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Friday, 22nd September 2006 (5466 views)

A new report has revealed that high earners in the US are set to spend their money on jewellery during the holiday season.

Figures released by Money Magazine and market-research firm ICR have shown that those with household incomes of $75,000 and over are the most likely to be spending money on jewellery costing more than $1,500.

The poll found that 41 per cent of those with high incomes were planning to spend over $1,500 on jewellery purchases during the holiday season, with 30 per cent of under-35s also preparing to splash out on jewellery.

Further, the study discovered that 45 per cent of Americans planning to buy jewellery during the festive period would not substitute less expensive metals, such as palladium, titanium, or stainless steel, for platinum, gold or silver.

Despite its recent slump, gold could be set for a return to prices of over $600 an ounce as demand for the precious metal will continue to grow in the lead-up to the traditionally busy gold-buying autumn season, which coincides with the main Indian and Hindu holiday period.

 

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