US Holiday jewelry sales expected to skyrocket

According to Mastercard SpendingPulse, US jewelers can expect revenue from jewelry sales in the US between November 1 and December 24 will grow 59% compared to the same period last year.

17 september 2021

Australia becomes world’s biggest producer of gold for first time

Australia has become the world’s biggest producer of gold for the first time, having played second fiddle to China for the last decade. Australia unearthed 157 tons of gold in the first half of the year, pipping China by four tonnes.

17 september 2021

Nigerian minister mulls death penalty for gold smuggling – report

Nigeria’s deputy minister in charge of mines and steel development has called for the death penalty for gold smuggling in the West African country.

17 september 2021

Gemfields back to black

Gemfields is expected to register a net profit after tax of $23.8-million in the first half of the year compared with the net loss after tax of $56.7-million, a year earlier. Earnings per share are expected to be 2 US cents from a loss per share of 4...

17 september 2021

Debmarine Namibia's new diamond recovery vessel to arrive in SA next week

Debmarine Namibia’s new N$7 billion diamond recovery vessel, Additional Mining Vessel #3 (AMV3), is expected to arrive in Cape Town, South Africa next week ahead of commissioning early next year.

17 september 2021

The Social Context of Jewellery’s Success

31 march 2021

(gjepc.org) - US jewellery sales declined 0.3% to $62,678 million in 2020. For sales to be practically flat following an exceptionally challenging year is not bad at all. And for sales to skyrocket in the fourth quarter is far more than just “not bad”. During the last three months of 2020, sales totalled an estimated $24.7 billion, a 13.3% year-over-year rise. By comparison, in the previous ten years, Q4 sales rose on average just 1.9%. In recent weeks, the talk in the market has been optimistic, but laced with a thick thread of ominous storm clouds. Basically, the view is this: travel was banned, vacations didn’t take place, the stock market boomed and, therefore, people had cash in their pockets and sought where to spend it. In brief, this situation resulted in pent-up demand. But is that all there is to it? Because if it is, that means that it is perfectly reasonable to conclude that jewellery sales will decline as soon as travel is restored.