TechnologyMay 01, 2026
Gemist, Saban Onyx Partner on Retailer-Focused Customization OfferingTheir partnership combines Gemist’s customization technology with Saban Onyx’s U.S.-based manufacturing capabilities.
SurveysAug 07, 2018
Gold Jewelry Demand Hits a 10-Year High in US
The World Gold Council said the market is benefitting from rising wages and increased consumer confidence.
Demand for gold jewelry in United States hit a 10-year high in the second quarter. This K. Mita Chevron heart ring in 18-karat yellow gold and 18-karat palladium white gold is set with 0.44 carats of kite shape rose-cut champagne diamonds and 0.165 carats of white diamonds ($5,520).
London—Gold jewelry demand in the United States reached 28.3 tons in the second quarter, marking a 10-year high for the period, the World Gold Council said.
Year-over-year, Q2 demand was up 5 percent, continuing the upward trend in the market.
The half-year number for the United States also hit a 10-year high; at 51.9 tons, demand reached a level not seen since 2008.
The market benefitted from a positive domestic economic environment that included rising wages, lower taxes that boosted household incomes, unemployment hitting historic lows and heightened consumer confidence, the WGC said.
The council also said department stores have reported strong jewelry sales—with some even reallocating store space to gold after replacing it with silver during the downturn—and a solid performance from the high end of the market.
Globally, though, gold jewelry demand dropped 2 percent in the second quarter to 510.3 tons.
The WGC noted that while it may seem surprising that gold jewelry demand didn’t pick up during the quarter given the relatively sharp decline in the per-ounce price of gold, it noted that currency weaknesses in many markets meant that local consumers weren’t seeing lower prices. Instead, they were seeing steady, or even higher, prices.
(The average LBMA gold price was $1,305.99 per ounce in Q2 and $1,317.73 per ounce in H1, according to Bloomberg and ICE Benchmark Administration).
Looking at worldwide jewelry demand by region, the Indian and Middle Eastern markets were the main drivers behind the Q2 decline, WGC said.
In India, consumers faced a high local gold price and seasonal challenges, causing demand to drop 8 percent year-over-year to 147.9 tons.
Meanwhile, economic factors and a new value added tax (VAT) introduced in some Middle Eastern markets impacted jewelry demand.
Iran posted the region’s biggest Q2 decline, 35 percent to 6.6 tons, as the country faced renewed economic sanctions and a collapsing currency.
The United Arab Emirates (-24 percent) and Saudi Arabia (-10 percent) also were down due to the impact of the VAT, while Turkey posted a 10 percent decline as political tensions pushed the local gold price higher.
Egypt was the only country in the region to see improvement, with gold jewelry demand up 10 percent to 5.1 tons, though the year-over-year comparison is against a record-low quarter in 2017.
In addition to the United States, growth in China helped offset the poor demand in India and the Middle East. Gold jewelry
Editors' Picks
Sponsored by
demand in China continued its recent recovery, rising 5 percent to 144.9 tons in the second quarter.
Consumers there increasingly are preferring innovative, creative pieces over traditional jewelry, and a greater emphasis is being put on innovative marketing and customer service as well, the WGC said.
Europe also saw a marginal uptick in second quarter demand from 14.4 tons to 14.5 tons, supported by a stable euro gold price, while growth in Indonesia and Vietnam helped offset weakness elsewhere in Asia.
Gold jewelry demand for the first half of the year worldwide remained virtually unchanged year-over-year at 1,031.2 tons.
The market for recycling gold was up 4 percent compared with the prior-year period, driven largely by Turkey and Iran.
Consumers there increasingly are preferring innovative, creative pieces over traditional jewelry, and a greater emphasis is being put on innovative marketing and customer service as well, the WGC said.
Europe also saw a marginal uptick in second quarter demand from 14.4 tons to 14.5 tons, supported by a stable euro gold price, while growth in Indonesia and Vietnam helped offset weakness elsewhere in Asia.
Gold jewelry demand for the first half of the year worldwide remained virtually unchanged year-over-year at 1,031.2 tons.
The market for recycling gold was up 4 percent compared with the prior-year period, driven largely by Turkey and Iran.
More on Surveys
The Latest
CollectionsMay 01, 2026
A ‘Hidden Garden’ Emerges in Tiffany & Co.’s 2026 Blue BookOur Piece of the Week, the “Butterfly” necklace, showcases a 7.02-carat oval diamond set between diamond, platinum, and 18-karat gold wings.
ColumnistsApr 30, 2026
Peter Smith: A Sleazy Salesman and the Case for Regret Avoidance Smith uses a comment he overheard in the grocery store to remind retailers that their job is to inspire buying behavior, not just sell.
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.
MajorsApr 30, 2026
Claire’s New Summer Campaign Is a Sensory Wonderland for Gen Alpha“A Girl SMR at Claire’s” celebrates girlhood through the five senses with stacked jewelry, slime toys, scented accessories, and ASMR.
Weekly QuizApr 30, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsApr 30, 2026
Vintage Cartier Watch Crashes Through Records, Selling for $2MBelieved to be one of three made in 1987, the Cartier London Crash was hot at the “Shapes of Cartier” sale at Sotheby’s Hong Kong.
CrimeApr 30, 2026
Masked Group Uses Hammers, Pepper Spray in Texas Jewelry Store RobberyOfficials are looking for a group that robbed Marc Robinson Jewelers at an outlet mall in Round Rock, Texas, in broad daylight on April 21.
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.
Supplier BulletinApr 30, 2026
OROAREZZO 2026: The B2B Event for Italian Excellence in Goldsmith, Jewelry and Silver ManufacturingSponsored by OROAREZZO International Jewelry Exhibition
TechnologyApr 29, 2026
The Thought Process Behind the Mother's Day Email Opt-OutSome retailers are taking a nuanced approach to marketing what can be a difficult holiday for many.
IndependentsApr 29, 2026
Dick Abbott to Retire From The EdgeThe Edge has announced its new CEO, as well as a new partnership with an investment firm focused on founder-led software businesses.
SourcingApr 29, 2026
De Beers’ Production Rises, Market Remains ‘Challenged’De Beers’ diamond production was up 17 percent in Q1, boosted by increased output at its mines in South Africa and Canada.
AuctionsApr 29, 2026
This'll Be the Day You Own John Wayne's RingA signet ring belonging to the Western film star of Hollywood’s Golden Age will be up for auction at Elmwood’s next month.
Policies & IssuesApr 28, 2026
Tariff Refunds: How to File, What to Expect Importers can submit claims now to receive money back for the IEEPA tariffs they’ve paid, with refunds expected to take up to 90 days.
IndependentsApr 28, 2026
This North Carolina Jeweler Is Passing the TorchThe owners of Gregory Jewelers in Morganton, North Carolina, are heading into retirement.
SourcingApr 28, 2026
Doug Hucker Retires From ICAThe colored gemstone industry leader is heading into retirement after four years as the association’s CEO.
SourcingApr 28, 2026
NDC Hires Tapestry Exec to Head Global Marketing Susie Dewey joins the Natural Diamond Council as its new chief marketing officer.
AuctionsApr 27, 2026
12 Years Later, the ‘Ocean Dream’ Diamond Resurfaces at Christie’sThe largest known fancy vivid blue-green diamond could fetch more than $12 million at its second auction appearance.
ColumnistsApr 27, 2026
Stop Treating Mother’s Day Like an AfterthoughtEmmanuel Raheb says jewelers need to start marketing early and make it easy for customers to pick a gift for mom.
IndependentsApr 27, 2026
Longnecker Jewelry Celebrates 30 YearsIn honor of the milestone, the Nebraska jeweler has debuted Leslie & Co., its new in-house jewelry brand.
MajorsApr 27, 2026
JBT Re-Elects Jeff Corey as Board ChairThe trade organization, which held its annual elections earlier this year, also added five new board members.
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.
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.
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.
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.
