GJ Town India

Silver jewelry hitting the sweet spot!   The strength of silver jewelry demand compared to jewelry demand for other metals varies hugely between countries. This is mainly due to cultural attitudes, such as consumers viewing silver as fashionable or a close, rather than a distant, relative of gold. (This helps explain why silver jewelry in the US is much stronger versus gold than it is in many other countries.)   Similarly, some markets might accept pieces made in base metals if the design and branding are good enough (a common view in Europe), while others would dismiss say a necklace in bronze as worthless, said in a Silver Jewelry Report, Prepared for The Silver Institute under the head, Silver Jewelry’s Popularity!   As shown below, Indian silver jewelry demand versus gold today is much stronger than silver is in China. This is due to both pro-silver facets in India (such as urban areas’ preference for silver for daily wear items) and pro-gold features in China (s...

Forecasted Increases in Key Markets   Silver’s use in jewelry is an important demand source for the precious metal. In 2019, 200.2 million ounces (Moz) of silver were consumed in this sector, which was just shy of the record high of 201.9 Moz posted in 2018.   Although silver jewelry consumption currently accounts for 20 percent of total silver demand, it is projected to rise to a quarter of global silver demand by the mid-2020s, further underscoring the popularity and desirability of silver jewelry among leading designers and fashion-conscious consumers.   Against this backdrop, a new publication released today by the Silver Institute, Silver Jewelry Report, assesses the current state and prospects of the top silver jewelry fabricating markets, including the U.S., India, Europe and East Asia. The report was produced by Metals Focus, the global precious metals consultancy. The report states that the global silver jewelry market has been negatively affected in 2020 b...