US silver jewelry consumption in 2020 report
Overviewed US Silver market 2020 Silver Jewelry Report overviewed US Silver market 2020. Any review of the US silver jewelry market in 2020 is inevitably dominated by the depth of the trough as the Covid pandemic took hold and then the speed of the recovery as lockdowns were eased and the economy came back to life. In this regard, we can point to the data from the US Department of Commerce on sales (by value) of all jewelry and watches. This shows a dramatic slump to losses of -51% y/y in April and a strong recovery to +2% in June (making for an indicative -25% for Q2 as a whole). Our contacts inform us, however, that recent sales include an element of pent-up demand, as more consumers are at last able to leave their homes, and so called “revenge shopping” (the latter being shopping as remedy to the general gloom of recent months). As a result, it is far from guaranteed that the modest gain seen in June continues. This would be doubly certain if infection rates f...