Sterling Canyon reports on the fading appetite of Gold jewelry and the increased demand for Sterling Silver necklace and earring jewelry.
According to National Jeweler, and the WGC’s Gold Demand Trends report, Gold jewelry demand in the United States fell 8 percent to 21.7 tons in the second quarter. In value terms, it was up 15 percent to $1.1 billion due to the high price of Gold.
The per-ounce price of Gold topped off at $1,552.50 in the second quarter, though it has since shattered that record, soaring above $1,900 an ounce. The average price of Gold was up 26 percent year-over-year and 9 percent over the first quarter. The price of Gold is not increasing because of high demand for the metal. It is increasing because it is used by investors as a hedge against the dollar.
More jewelers are offering cheap 10k Gold jewelry simply because it is more affordable. Sterling Canyon just added to their catalog fine Sterling Silver necklaces and earrings with 18k Gold highlights. People can still have high quality gold pieces at very affordable prices.