US Gold Jewellery Imports Up 9% in Q2

New York: Gold jewellery imports into the US rose by 9% during the quarter ended June 30, 2015, the slowest growth rate in almost three years, say media reports. During the quarter, the country imported 14,792 kg, with June imports reaching 4,205 kg, a rise of 3% as compared to the same month in 2014, the reports state.

Gold jewellery imports had shown double digit growth for at least nine consecutive quarters before this. These figures quoted by the media were based on estimates provided by analysts with Thomson Reuters GFMS, a global precious metals consultancy.

In a report released last month, GFMS had said that the US had seen a 13% increase in domestic consumption during the first half of the year The agency said that imports of gold jewellery from India, which is already the largest supplier of gold jewellery to the US, registered a 9.5% increase, while imports from the other two top gold jewellery suppliers – China and Italy, declined. On the other hand, silver jewellery imports were up 11% in Q2, while platinum jewellery imports shot up by 39%, the reports said.