Bifalgorithm post · Gold Demand and Supply · H1 total demand volume slightly firmer, value rockets

Jewellery Demand

Jewellery Demand (Gold Demand and Supply · H1 total demand volume slightly firmer, value rockets) — "Jewellery demand fell to its lowest quarterly volume since…

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  • Jewellery demand volume declined while spending value increased.
  • Jewellery demand fell to 278t.
  • This was the lowest quarterly volume since the pandemic.
  • Affordability remained constrained.
  • High gold prices constrained affordability.
  • Broader inflationary pressures also constrained affordability.
  • Spending on gold jewellery rose 14% year on year to US$40bn.
  • This confirmed gold’s continued importance in share of wallet.
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Jewellery Demand

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Gold Demand and Supply

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"Jewellery demand fell to its lowest quarterly volume since the pandemic (278t), as high gold prices and broader inflationary pressures continued to constrain affordability. In comparison, spending on gold jewellery was up 14% y/y at US$40bn, confirming gold’s continued importance in share of wallet."

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