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Women see gold jewellery as “everlasting” – WGC

LONDON, February 11, 2009 – Women across the world say a key reason for buying gold jewellery is “because it is everlasting”, an attribute that makes it an ideal Valentine’s Day gift, according to the World Gold Council’s (WGC) 2008 jewellery survey.

“Our survey shows that Valentine’s Day is an important occasion for receiving gold jewellery for women in different regions around the world,” said Philip Olden, the WGCs managing director.

“The higher gold price has added to gold jewellery’s desirability despite these challenging economic times,” he added.

“Gold’s perceived value and enduring emotional appeal are not mutually exclusive and set gold apart from other traditional gifts.”

Olden said that with two-thirds of global gold demand coming from the jewellery sector, understanding the consumer is crucial to both the gold jewellery trade and the gold market as a whole.

“With retailers under severe financial pressure, unlocking the consumer purse through effective promotion of gold jewellery is critical,” he said.

Even the younger segment of those surveyed, who are typically more interested in spending money on gadgets such as mobile phones than spending their disposable income on jewellery, appreciate the romance of gold jewellery with 30 percent stating they wanted to receive it for Valentine’s Day.

The survey was conducted by independent research firm, GfK, in the key gold jewellery markets of India, China, Saudi Arabia, Italy, Turkey and the United States.

7,500 females aged between 15 and 65 were asked about their reasons for buying and favourite occasions for receiving gold jewellery, with 76 percent agreeing that “it is everlasting” and Valentine’s Day emerging as a key date.