Gold prices at record high: Vienna experiences jewelry boom despite the crisis!
Gold prices at record high: Vienna experiences jewelry boom despite the crisis!
Wien, Österreich - The gold price in Austria has recently reached record heights, which not only unsettles the buyers, but also keeps the demand for gold jewelry and watches stable. According to Kosmo , the emotional binding of consumers to jewelry is often more decisive than the material costs themselves. Despite the high prices, there is a significant decline in the jewelry industry, and golden time indexes are shown Crisis -resistant.
Customers make conscious purchase decisions and come into the shops with concrete ideas for price, material and design. The cheap price fluctuations delay some buyers, but the premium sector is not affected. Dealers benefit from the high gold prices, while their profit margins remain stable.
market development and product demand
The shift in product demand is clearly noticeable. Consumers are increasingly looking for lighter pieces of jewelry with lower karatoses. Alternatives such as platinum also gain popularity. Filigree designs and specific 14-carate jewelry pieces are popular, which leads to an increase in the sale of high-quality platinum products.
The trendy Altgold market also shows growing numbers. More and more customers are bringing unused jewelry, coins or inherited pieces to specialist companies. The demand continues to increase the increasing interest in appreciation, repair and revision services. In Vienna there are currently 421 retailers in the area of precious metals and 127 specialized watch dealers who offer comprehensive advice and focus on the personal shopping experience.
global gold demand and investments
demand in the jewelry segment fell by 11 %, which is partly due to the high gold prices. Nevertheless, the demand for gold bars rose by 10 % to 860.0 tons, while the demand for gold coins decreased by 31 % to 201.0 tons. The reports show that central banks increased their gold reserves by 1,044.6 tons, a third highest increase since 1967.
gold as a stable value system
gold still remains an estimated investment. The combination of physical gold in the form of coins and bars, which are free of VAT, attracts numerous investors. In view of the economic uncertainties and low interest rates, this gives the precious metal additional value as a safe harbor, especially in times of crisis.
investors have various options to invest in gold, including gold bars, coins, paper gold and gold ETFs. In addition, gold recycling is becoming increasingly important not only for the economy, but also for the environment. Recycling reduces CO2 footprint and protects natural resources. According to Goldmarket in 2017 around 1 million tons of gold were added to the market by recycling.
Overall, the gold market is a dynamic and multifaceted field that is characterized by both emotional and economic factors. High quality products and individual customer requests are always in the foreground.
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| Ort | Wien, Österreich |
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