Costume Jewellery More Popular Than Gold?

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Costume Jewellery 
During any times of economic hardship, one thing which always remains high in value is gold. The precious metal is a commodity which will always have worth regardless of the situation the banks find themselves in, hence why prices tend to rise when economies look unstable. 2012 saw the value of gold rise for the twelfth consecutive year, meaning that the buying prices rose yet again. While this may be good news for people who invested in gold years ago, it is not inspiring new buyers to purchase the metal. In fact, the popularity of gold appears to be falling because of the high prices.
One industry which is seeing the effects of this changing sentiment is the jewellery industry.

In countries such as India, where gold is usually very desirable during the wedding seasons in particular, jewellery makers are noticing the difference in people’s attitudes to gold. Firstly, there has been an increase in the amount of recycled gold which is being circulated. In 2012, India reportedly recycled 89 tonnes of gold, which is a sharp increase from the 36 tonnes recycled in 2011. The most interesting change relating to jewellery, however, is the growing preference for costume jewellery over gold.

Jewellery

Costume jewellery refers to less expensive jewellery, generally made from non-precious metals and other materials. The focus of costume jewellery makers is on how the item looks and how it fits into current trends, rather than on the piece as an heirloom or investment.  Costume jewellery is often seen as more disposable than that made from gold, and is a popular fashion choice across the Western world. Yet it is even experiencing a surge of popularity in the Asian jewellery markets. Jewelers in India are reporting much higher consumer demand for costume and antique jewellery than for gold at the moment.

Apparently, old styles are in vogue once again and, as such, many people are seeking out antique styles. Silver has in fact become the most sought-after metal because it fits this trend better than gold, which is too lustrous and new-looking. Some consumers who have bought gold are even going as far as getting a coloured tinge added to the metal to give it an antique effect.

It is impossible to tell when gold will make a comeback in the jewellery market, though considering the changeability of fashion it is likely that it will be back in vogue at some point soon.
Adam
About the Author:

Adam has been writing articles for a number of years now with great success in numerous differing industry sectors.

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