The hallmarking figures for December 2011 again show a decline in volume against December 2010.
The total number of items hallmarked by the four UK Assay Offices was down by 25% - with gold down 19%, Silver 30% and Platinum 6%.
Hallmarking numbers have continued to feel the effect of the continuing high precious metal prices throughout 2011. The total number of units hallmarked by the Assay Offices was 10.86 million compared to 14.84 million in 2010, a reduction of 27%.
All categories of precious metal have been affected with gold down 24% silver 29%, platinum 10% and palladium 7%. For the third year running more silver articles were hallmarked than gold but the increase in the price of silver in 2011 has had an effect on the number of silver items being submitted for hallmarking.
There has been a shift within the jewellery industry towards fashion branded products, many containing little precious metal. Also more silver jewellery is being made under the hallmarking weight of 7.78 grams and so it is difficult to estimate the total amount of silver products being manufactured.
Posted 12.01.12 by Ray Kenna Finance Director
No comments:
Post a Comment