US gold sales soar at Christmas

According to new industry figures, the seasonality of gold demand has grown substantially in the last ten years and continues to move in this direction in the United States.

Idexonline.com reports that nearly half (45 per cent) of all gold jewellery sold in the US changes hands in the fourth quarter of the calendar year, which coincides with the traditional gift-giving time of Christmas.

Statistics for 1993 suggest that only around 42 per cent of gold jewellery sales occurred in the fourth quarter and sales across the whole year were marginally more balanced than they are now.

Although the sales of all jewellery are substantially higher in the fourth quarter, the trend is particularly indicative of gold jewellery, which many analysts put down to the precious metal's prominence as a 'gift metal' rather than something one would buy for oneself.

Gold jewellery sales did not demonstrate a noticeable rise around Valentine's Day, despite many people's assumptions that this would be the case. Analysts put this down to the fact that gold was perennially outshone by red items, which were always good sellers around this time.