| Hong Kong Jewellery 香港珠寶
News & Highlight


Q1 Gold Jewellery Demand Soft, Says WGC

Gold jewellery demand in Q1 2022 was relatively soft, particularly when compared with the bumper previous quarter, with much of the weakness came from China which was affected by COVID-related lockdowns, and India, where there was a relative lack of auspicious days, according to World Gold Council (WGC) on the Gold Demand Trends Q1 2022 report. 


Much of the decline can be accounted for by China and India, which together tend to generate between 55-60 percent of total quarterly jewellery consumption. Demand elsewhere was relatively robust, particularly in the Middle East and Europe; excluding China and India, jewellery demand was seven percent higher year-on-year. In value terms, Q1 demand was three percent y-o-y at US$26 billion.


Jewellery fabrication was slightly more resilient, declining by four percent y-o-y to 518 tonnes. As a result, the market saw a build-up of inventories during the quarter (+ 46 tonnes), as consumer demand failed to match expectations.


Click here for the full report.





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