| Date: |
10-12-2010 |
| Subject: |
Indian Exporters See Rising US Demand for Gold, Silver, Diamonds |
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Indian exporters of gold, silver, and diamonds are seeing a rising US demand for these precious commodities, reports CommodityOnline.
Some exporters, such as Avinash Tiwari, have noted an increase of as much as 20% in gold, silver and jewelry orders from the US. "It looks [like] precious metals items are going to be hot buying stuff for the holiday shoppers," Tiwari said.
The main US holiday shopping season kicked off on Black Friday (the day after Thanksgiving), which saw an increase of 22% in jewelry sales in both retail outlets and online, and will continue through the beginning of January. For Indian jewelry exporters, this period accounts for 40-45% of their sales.
It is worth noting that in 2010, sterling silver replaced low-purity gold as the metal of choice in entry-level price point diamond jewelry (pieces defined as costing $29-$199.)
Source : israelidiamond.co.il
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