GOLD JEWELLERY DEMAND HIGHEST SINCE 2005

Gold jewellery has made a strong start in 2014, with global demand in the first quarter reaching its highest volume in a decade.

Although the World Gold Council’s Gold Demand Trends: First quarter 2014 report described the three per cent increase in gold jewellery demand to 570.7 tonnes as “modest growth”, it also stated that this was the largest recorded first quarter volume since 2005.

This boost in demand was primarily attributed to lower gold prices; the average price in United States dollars was 21 per cent lower than in the previous year.

The drop in gold price was echoed in other markets with European and Chinese consumers said to have particularly benefited from a similar lower-price environment. The strengthening economic situation was also noted as a contributing factor.

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Ground broken on new Birmingham Assay Office site

Birmingham Assay Office bosses joined members of their building project team to begin work on the site of the new building at Icknield Street last week.

The Assay Office has been at its current home in Newhall Street since 1877, and says that the move within the Jewellery Quarter “demonstrates the confidence and commitment of one of Birmingham’s oldest businesses as it continues to invest for the future.”

Founded by an Act of Parliament in 1773, the Assay Office still carries out its statutory duty of testing and hallmarking precious metal but has widened its scope considerably in the past decade, now offering assessment, authentication and valuation of precious metals, jewellery, watches, fashion accessories and gemstones.

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