Silver Sales Strong over Holiday Season
January 24, 13
(IDEX Online News) – Given the runaway price of precious metals, the strong performance of sterling silver jewelry over the holiday season is hardly surprising.
In 2012, the price of silver ranged from $27-$32 per ounce. In contrast, gold soared last year, starting at $1,600/ounce and peaking at $1,791/ ounce in September.
"Silver fits a very big market," said Michael DiRienzo, executive director of the Washington, D.C.-based Silver Institute. "It's apparent that consumers enjoy silver and are drawn to the exquisite work some of the best designers are producing."
Michael Barlerin, director of the Silver Promotion Service (SPS), a division of the Silver Institute, said that branded silver jewelry has become an increasingly important segment of retail jewelry sales in recent years.
"Many designers are using silver, and the range of silver jewelry is broadening. People are getting comfortable with sterling being part of a fine jewelry collection," reported Amanda Gizzi, director of Communications at Jewelers of America.
The Silver Institute serves as the industry's voice in increasing public understanding of the many uses and values of silver.