U.S. demand for gold jewelry rose 6 percent in the first quarter of 2013, the first time it has risen since 2005, according to the World Gold Council’s Gold Demand Trends report.
The report attributes the demand jump to the decline in the gold price, as well as the continued improvement in the U.S. economy.
Mass-market retailers “re-introduced their gold offerings at key price points in recognition of solid underlying demand,” the report said.
In addition, the report noted that many consumers now view gold through a “quasi-investment lens, with a focus on ‘heirloom’ pieces that can be gifted and passed on.”
Worldwide gold jewelry demand was up 12 percent in the first quarter over the year before, the report said, driven mainly by demand from China and India.