World Jewelry News - Wednesday November 14th

Jewelry and Watch e-Commerce Sales Up 26%
Online jewelry and watch sales increased 26 percent in October, year-over-year, according to comScore, Inc. Total e-commerce spending (not including travel) rose 19 percent to nearly $10 billion for the month, year-over-year.

The high cost of the precious metal has not significantly affected jewelry demand
The increasingly high cost of platinum has not significantly affected jewelry demand, according to Johnson Matthey's mid-year report. Meanwhile, the palladium jewelry market in the U.S. is "slowly growing," while jewelry demand in China (palladium's largest jewelry market) has declined.

Yesterday's top story: Gold – back from the brink?
In an article a couple of weeks ago, I warned that any signs of dollar strength could lead to a setback in the rise in the gold price, but when it happened it was much steeper than I would have anticipated. I also warned of increased volatility as prices rise. That has certainly been seen in the markets.

Versani, LTD Launches its Website - Versani.com
Versani, LTD, a New York based jewelry company has unveiled its official website, www.Versani.com. With unconventional and innovative designs, Versani has carved a niche for itself in the jewelry industry. Versani is renowned for its sensual designs and highly distinct jewelry collections.

Fossil Jumps 17% On Strong Earnings
The watch and accessory maker reported a 41% jump in net income to $30.5 million, or 43 cents per share, up from $21.5 million, or 31 cents per share in the corresponding period of last year. Sales rose 20% to $358.6 million.

Rights Group Urges Burmese Gem Ban
The call from Human Rights Watch coincided with Tuesday's opening of a government-run auction of precious stones -- the latest in a series begun in 1964 and drawing buyers from all over to one of the world's top gem-producing countries.

Platinum could hit second record high within six months
Platinum could hit another record high price within six months should the current supply/demand balance persist, according to specialist materials group Johnson Matthey.

 

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