Gold sales boom reported by German jewelers - Monday 21st January 2008

Sales of gold jewelry in Germany have spiked in recent times, despite yellow metal prices hitting record highs, according to reports.

Georg Leicht of Leicht Jewelers told Deutsche Welle that the recent rise in gold prices has in fact driven demand higher due to customers becoming more likely to believe that gold is "something precious".

In addition, international demand for German-made jewelry is helping to boost sales, with one firm, Wellendorff, selling half of its exports to Japan and the US.

"The media attention to gold helps us to sell gold even if it is more expensive than it was before," Mr Leicht commented, adding: "I think [customers] feel good buying something they like that's not only beautiful but ... keeps its worth."

According to the Gold Survey 2007 by consultancy GFMS, jewelry fabrication experienced a five per cent increase over the course of last year.
Goldbug, 21 Jan '08

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