The price of gold has been declining in recent years, including because of a general lack of elevated inflationary pressure in many advanced societies. Gold is an asset people tend to buy during inflationary periods. There has also been the growing popularity of other metals used in jewelry.
According to an analysis by Bloomberg based on data from the World Gold Council, demand for gold jewelry has been reduced over the past decade as shoppers have come to favor white-colored metals such as silver and platinum. Demand for gold could begin to build again say experts because of high tech manufacturer Apple. Apple’s status as an arbiter of what’s cool means that its new ten thousand dollar gold watch and yellow iPhones may entice more consumers to go gold.
Popular culture has a history of influencing jewelry fashions. According to Bloomberg, colored gems received a boost after celebrities like Kate Middleton, Jessica Simpson and Halle Berry wore engagement rings with sapphires, rubies and emeralds. High quality emerald prices have risen nearly fifteen fold since 2009 according to Gemfields Plc.
