News

Advanced Search

Gold Jewelry Demand -19% to $88B in 2014

Feb 12, 2015 8:10 AM   By Jeff Miller
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... The World Gold Council reported that gold jewelry demand by weight rose 1 percent year on year to 566.9 tonnes in the fourth quarter of 2014, while the value of gold jewelry demand slipped 5 percent to $22.2 billion. Gold jewelry demand for 2014 fell 10 percent to 2,152.9 tonnes; however, by value demand plummeted 19 percent to $87.7 billion.

During the fourth quarter, which included Diwali and Christmas, India's gold jewelry demand surged 19 percent to 179.1 tonnes, but Greater China's demand fell 27 percent to 150 tonnes. The Middle East region's demand rose 3 percent to 37.4 tonnes, while U.S. demand jumped 13 percent to 53.9 tonnes and Europe's demand increased 6 percent to 25.5 tonnes.

By value, India's gold jewelry demand during the fourth quarter rose a healthy 12 percent  to $6.9 billion, but Greater China's demand slipped 31 percent to $5.8 billion. Demand from the Middle East fell 3 percent to $1.4 billion, but it rose 6 percent in the U.S. to $2.1 billion. Europe was flat at $986 million.

Similar trends were reflected in yearly calculations.  Gold demand for jewelry in India reached a record 662.1 tonnes, up 8 percent compared with 2013 and in spite of government measures to restrict gold imports. Still, even with a strong wedding season and Diwali, according to the World Gold Council, gold jewelry demand by value fell 4 percent year on year to $26.9 billion in 2014.

In Greater China, gold jewelry demand plummeted 33 percent to 667.3 tonnes and it decreased 39 percent by value to $27.2 billion. Middle East demand fell 8 percent to 174.1 tonnes and dropped 18 percent by value to $7.1 billion, while  U.S. demand for gold jewelry rose 9 percent to 132.4 tonnes, the highest since 2009, but it fell 1 percent by value to $5.3 billion. Europe's demand rose 6 percent to 46.4 tonnes, but fell 3 percent by value to $1.8 billion.



Tags: China, demand, gold jewellery, India, Jeff Miller, Jewelry, trends, World Gold Council
Similar Articles
Rapaport TradeWire January 18, 2018
Jan 18, 2018
Retail Industry Mining General Finance January 18, 2018 RAPAPORT MARKET COMMENT Dealers upbeat and
Rapaport TradeWire January 4, 2018
Jan 04, 2018
Industry Retail Mining General Finance January 4, 2018 RAPAPORT MARKET COMMENT Diamond market optimistic for
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.