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U.S. Gold Jewelry Imports Reach Seven-year High in October
By Marcy Nicholson, Reuters Jan 12, 2016
U.S. imports of gold jewelry rose to a seven-year high in October while platinum jewelry imports surged by more than 60 percent after precious metal prices fell to multiyear lows, Thomson Reuters GFMS calculations showed.
"The United States continued to import large volumes of gold jewelry in October," Erica Rannestad, senior analyst of precious metals demand at GFMS, said in an email late on Wednesday.
"Gold prices averaged 25 percent lower that month than a year earlier, buoying demand for jewelry made with gold amid a strong United States dollar."
U.S. imports of gold jewelry reached 7,082 kg (227,691 oz) in October, up 9 percent from a year earlier and the highest level since November 2008. For the first 10 months of 2015, imports were up 13 percent from year-ago levels, Rannestad said.
Read Full Article on Reuters »