Market Outlook

Facing Facts: Global Gold Jewellery Demand Rebounds with a…

Besides marriages, festivals, especially in Q4, brought shoppers back to the jewellery markets. Dushera and Dhanteras are two auspicious occasions when people buy jewellery for well-being. Since they missed out in 2020, buyers flocked into the jewellery shops this time.

Elsewhere in Europe and North America, jewellery demand also continued to recover. Demand in Europe increased by 11% year on year. However, intermittent lockdowns and other related restrictions to stop the spread of the virus stopped demand from reaching its full potential.

In North America, with its economy recovering from the pandemic-induced slowdown, gold demand registered an increase of 10% year on year.

China and India together accounted for just over two-thirds of global jewellery demand, amounting to 1,229 tonnes in 2021. While this looks spectacular compared to 2020 due to the low base, we don’t expect another ‘stellar’ year in 2022.

A slowing China may hurt consumer sentiment and jewellery buying, while in India, pent-up demand has already been absorbed.

Demand in the rest of the world is expected to be broadly flat, although the Middle East could be the exception. We are expecting demand to increase by 5% to 7% on a year-on-year basis.

Buka akaun dagangan patuh syariah anda di Weltrade.
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