The Art of Jewellery - February 2024

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Championing Talent: GJEPC’s Artisan Jewellery Design Awards celebrate & honour design & craftsmanship

The World Gold Council’s Gold Demand Trends report reveals that annual gold demand (excluding OTC) fell to 4,448t in 2023, down just 5% from a notably strong 2022. When factoring in demand from the OTC markets and other sources, total demand climbed to a new annual record at 4,899t. Investment from this more opaque source of demand supported 2023’s highest annual average gold price on record.

The central bank buying streak continued on from 2022 at a blistering rate. Demand reached 1,037t last year, making it the second highest on record, down just 45t on the previous year. In contrast to robust OTC and central bank demand, ETF outflows continued in 2023, losing 244t in a third consecutive year of decline, with outflows in Europe dominating the picture.

Diamond sales were sluggish in January amid limited restocking following the holiday season. Prices of rounds continued to increase as select categories were in short supply following India’s two-month freeze on rough imports, which ended December 15. This trend will likely continue until inventories become too large. However, buyers were reluctant to close deals at these prices. US dealers mostly bought for immediate demand and not for inventory. Sales in mainland China remained slow.

The Art of Jewellery Magazine Description:

The Art of Jewellery is India's No. 1 business magazine on the jewellery trade and industry. A one-stop source of cutting-edge information for the Gems and Jewellery sector, it is reputed for its focused content, high editorial standards, creative design, rich imagery and state-of-the-art printing.

Now in 14th year of publishing, it has won many awards and rich accolades for its contribution to the jewellery industry and trade. It is widely recognized by readers, advertisers, and the jewellery community as a premier magazine in the industry. It reaches quality jewellery retailers in India and overseas and has an extended reach during exhibitions and trade fairs.

The Art of Jewellery has a tremendous web and digital presence and is a pioneer in providing daily news updates on national and international happenings. AOJ Daily – E news capsule reaches more than 80,000 industry players on daily basis.