2001 Gold Jewelry Sales Rise

April 19, 2002

2001 Gold Jewelry Sales Rise

Fine gold jewelry sales in the U.S. hit $15.6 billion in 2001, a new record, says the World Gold Council. The 2.1% increase over 2000 sales marks the eleventh consecutive year gold jewelry sales increased, according to Audits & Survey Worldwide, which conducted the sales study sponsored by WGC. There was an increase of actual gold units of 4.2% overall in 2001.

"We are gratified by gold's continuing strong performance, particularly in light of the country's economic downturn and the tragic events of the past year," says John Calnon, WGC senior vice president/jewelry (Americas). "This confirms the influence of the new advertising campaign launched last year and that Americans continue to give gifts of fine gold jewelry ... or [buy gold] as self-purchase items."

Among the different categories:
• Gold wedding rings increased 5.4% in dollars and 5.3% in units.
• Bracelets rose in dollars by 3.7%, a signficant gain since bracelets had decreased by 3.3% the previous year.
• Earrings jumped 4.3% in dollars and 10.2% in units.

Among retail outlets, independent jewelers led the field in increased gold jewelry sales, reporting an increase of 3% in dollars and 1.8% in units. Discount stores saw a 1.2% increase in dollars and a 6.5% increase in units. Department stores reported a drop in dollar volume for a second year, but gained slightly in unit sales.

by Peggy Jo Donahue

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