There are certain jewellery materials and trends that have stood the test of time, gold being one of them. However, the majority of the public still aren’t sold on gold, preferring to go for its sister silver, resulting in significant dips in the gold market. This week, a new survey from the World Gold Council investigated the public’s attitude towards gold, why they buy it and why they don’t. The results have sparked opportunities for gold jewellery, for both retail jewellers and independent brands.
The survey conducted by the World Gold Council explored a range of jewellery markets, from the United States, China, India and Russia. The survey found that gold is still a “mainstream choice” and “the third most consistently bought investment” (Professional Jeweller, 2019) at 46%. The survey found that 56% of customers buy gold jewellery, over silver and platinum.
The survey found that there is still huge potential for gold jewellery, as those who have never bought gold before were interested in purchasing in the future. Despite the survey’s findings that some people are mistrustful with gold purchasing and potential buyers have a lack of knowledge about it, the survey did find areas of hope that opens up opportunities for gold sellers.
67% of retail investors have confidence in gold, which in turn will equal a similar confidence from customers. Although gold compares poorly to other fashion items online, with the rise of technology, gold can become more accessible to customers especially with the right marketing. Gold has also found a new customer demographic, with the younger generation becoming more interested in gold.
So why pick gold jewellery? Gold is a staple jewellery metal and comes in rich polished colours, like yellow, white and rose. It is also the perfect choice for birthday gifts, Christmas presents, anniversaries and a milestone piece for those who are just getting into jewellery. While the costs can be cheap in terms of gold plating and gold vermeil, real gold is very much an investment piece, so is ideal for a passionate collector and investor.
With Black Friday right around the corner and Christmas looming in the distance, there is no better time to explore the wonders of gold. Take a look at our selection and invest in gold jewellery today.