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Gold prices in crisis: jewelry industry fights for survival!
High gold prices will dampen jewelry demand in 2023. The article highlights trends, forecasts and impacts on the market.
Gold prices in crisis: jewelry industry fights for survival!
High gold prices are currently shaping the market and have significantly influenced demand in the jewelry industry. Loud crown Total sales by German manufacturers of 18-carat alloys fell by around 17 percent to 28 tons in 2023. This development was not only observed in the classic jewelry segment, but also in the luxury sector.
The Precious Metals Association in Pforzheim has found that private investors increasingly offered old jewelry, bars and coins for sale in 2023, which led to a 23 percent decline in demand for bars and coins. Thomas Weiß from the professional association said that “people want security”. This reflects the impact that uncertainties, such as the election of Donald Trump as US President, have on market sentiment.
Current developments in the gold market
A look at the current price situation shows that the price of gold on April 1, 2025 is $3,144, with an expected daily range of between $3,115 and $3,165. This data comes from an analysis by Kagel's Trading, which also points to the difficult forecast for 2025. Daily changes in US trade policy could continue to influence gold prices.
The fundamentals of price dynamics are determined by supply and demand, interest rate policy and inflation. Gold price highs have also been fueled in recent months by the threat of US tariffs on European goods. Stock market news observed that this has also had a negative impact on the demand for dental gold, making visits to the dentist for dental gold less frequent.
Market development and a look into the future
Despite the rise in gold prices, there are positive signs in the recycling sector. Scrap gold sales have led to an increase of around 20 percent in the recycling of scrap gold in Germany compared to the previous year. At the same time, interest in smaller gold denominations is increasing, with new offerings such as a thin foil weighing 0.314 grams.
The medium-term gold price forecast until 2027 envisages a stable upward trend with price targets of $3,300, followed by a long-term forecast that predicts an increase to up to $4,500 by 2030. This information comes from Kagels Trading's analysis, which also emphasizes that technical applications of silver, particularly in e-mobility and photovoltaics, are becoming increasingly important, while demand in vehicle technology is falling due to the difficult situation in the auto industry.
However, market uncertainties and geopolitical events could complicate predictions. It therefore remains to be seen how events will develop in the first half of the year and what impact they will have on gold prices and the associated markets.