If you are involved in the jewelry industry, then you are well aware of the recent drop in the price of gold. So, with reasonably priced gold making a return to the jewelry industry, how will this impact the jewelry market and silver use?
Lower-priced gold will likely increase jewelry demand, which will give the industry a good boost. While the prices are not at the sky-high levels seen last year, industry experts maintain that high-end consumers will still be the ones purchasing the majority of gold jewelry. We may begin to see a rebirth of gold designs and see the metal used more, however, it seems that the impact of gold jewelry purchases on a mass market level will take time.
Therefore, there is still a heavy focus on silver and other alternative metals in the jewelry market and those pieces continue to need anti-tarnish protection. Many designers are adding their own creative twists with the precious metal, updating common silver styles by adding unique brushed or hammered finishes. Gemstone and sterling silver combinations are still popping up, allowing for colorful, eye-catching, yet budget-friendly, designs.
There is a reason this precious metal sticks around. Silver designs remain popular with consumers and therefore designers have to provide the merchandise that will drive sales. Silver's continued popularity goes hand-in-hand with tarnish prevention. Retailers need to protect their sales by protecting their silver inventory. Similarly, as customers continue to buy, they have a need to safeguard their valuables at home. Therefore, preventing tarnish on silver jewelry is a necessity to protect your merchandise during production, shipping, storage or on display.