The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
US Gold Jewelry Demand Up 3% in Q1
A post-election lift in consumer sentiment buoyed demand in the market while global demand was basically flat.
London--Despite a tepid performance globally, gold jewelry demand in the United States continued to grow in the first quarter, leading to the strongest Q1 since 2010, according to the World Gold Council.
In its latest Gold Demand Trends Report, the WGC said a post-election lift in U.S. consumer sentiment buoyed demand, which increased 3 percent to 22.9 tons during the period.
It also reported that yellow gold was more popular in the U.S. than in European markets, and that high-end and online retailers performed strongly.
The online segment also, unsurprisingly, continues to gain strength in the country, particularly with continued growth in “clicks-and-bricks” retailing and omnichannel shopping, the council said.
Globally, gold jewelry demand was basically flat in Q1, increasing just 1 percent to 480.9 tons.
The metal’s rising price contributed to softness in demand during the quarter; its 9 percent increase in the U.S. between end-December and end-March played a major part in that, though consumers in many markets were slightly protected by the weakness of the U.S. dollar.
The price of gold in the first quarter averaged $1,219.50 per ounce.
India, Iran and the U.S. all recorded increases in demand for gold jewelry, the WGC said, which just outweighed the modest declines elsewhere.
Indian jewelry demand jumped 16 percent from last year’s “exceptionally low level” as market conditions improved after a tough year and the “gradual remonetization of the economy” is supporting the market.
In China, meanwhile, demand for gold jewelry softened slightly with a 2 percent decline year-over-year as a seasonal uplift offset the impact of higher prices. Even as the market is affected by a slowing economic environment and changing consumer tastes, retailers and manufacturers in the country are attempting to introduce trends that appeal to younger consumers and innovate.
Europe’s performance was negatively affected by a weakness in France, impacted by pre-election uncertainty and the rise in terrorist activity impacting tourism, and the U.K.
Total global gold demand--counting jewelry as well as investment and other uses--in the first quarter was down 18 percent year-on-year to 1,034.5 tons.
The first quarter 2017 numbers suffered from a comparison with Q1 2016, WGC said, as it was the strongest first quarter ever at 1,261.8 tons.
The Latest
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.