What is the Gold Market?
The Gold Market refers to the buying and and selling of gold worldwide. Gold has been used as a trading commodity for over a thousand years. Even today, its essential value makes it a smart choice for moving wealth internationally and investing long term.
How is the Gold Marketing Currently Doing?
Currently, the gold market is expressing minor gains. U.S. gold jewelry sales rose only 1% in the first quarter of 2019, possible due to the prolonged government shutdown.
A recent report states that “the prolonged government shutdown hit demand in January, as demonstrated by a drop in gold jewelry imports that month.”
This was the ninth quarter in a row that U.S. gold jewelry sales have expressed year-on-year growth, although the 1% amount is less than the 4% recorded in the final quarter of last year.
“The higher-end jewelry segment remains robust,” the report said. “And independent retailers in more affluent and/or Hispanic-dominated areas reported a strong quarter.”
But the numbers weren’t as good from mass-market retailers, which are “less resilient,” according to the WGC report.
The United States is the world’s third-largest gold jewelry market.