"Global jewellery production sank 19.8% to a 21-year low last year, and GFMS opined that prices would need to fall below $900 to revive the fortunes of the jewellery market. "
I remember legend Jean-Marie Eveillard arguing the reverse in the 1990s... that growing jewellery demand would underpin prices back then. How wrong he was. Demand grew alright but the price still collapsed.
The same is true in the 2000s, this time in reverse. What's far more important is investor demand, especially what current holders of bullion are doing... are they holding, selling or buying more??
There's no correlation between the gold price and jewellery... only the macroeconomy matters.
