Thursday, December 23, 2010

Record Gold Prices Hurting Jewelers

Dec. 22 (Bloomberg) -- Bloomberg's Gigi Stone reports on the impact of rising gold prices on jewelry demand and jewelry makers. The rising value of bullion, reaching a record $1,431.25 an ounce on Dec. 7, has upended the economics of jewelry for buyers and sellers alike, with a mix of outcomes around the world. U.S. purchases of gold jewelry have fallen 36 percent by volume in three years. Women in India, where demand is booming, are buying hollow bangles made to look like solid gold. (Source: Bloomberg

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