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INDUSTRY NEWS: PGI LAUNCHES PRESS WEBSITE, GOLD DEMAND GROWS IN THIRD QUARTER, MORE November 16, 2011 (0 comments)
Platinum Designers and Manufacturers Invited to Put Product on New PGI Website For Press
New York—Platinum jewelry designers are encouraged to submit product photos and press materials for the newly-launched Platinum Guild International USA dedicated press website.
PGI-USA is one of the first jewelry associations to offer the media unprecedented access to view and download the latest news, photos, and videos directly from a unique URL at any time.
Platinum jewelry designers and related associations are encouraged to submit their latest platinum product photos and press materials for consideration on the PGI press site.
“Having your brand’s product photos and news featured on the site will undoubtedly generate consistent awareness for your platinum designs, and increase your opportunity for press coverage,” says Huw Daniel, president of PGI-USA.
A portion of a page of the new PGI website designed for press to use for images and information. Here, a selection of product from Coast Diamond and Bergio is shown.
PGI-USA has been meeting with top media to preview the site, and the response is overwhelmingly positive.
“I’m excited. This site will be a great resource for downloading the latest product images and keeping up with jewelry trends,” says Heather Levine, senior fashion and beauty editor at The Knot.
“I look forward to seeking out interesting product that I haven’t seen anywhere else,” says Jodi Belden, associate accessories editor at Elle magazine.
Only brands that have signed PGI-USA’s Merchandise Supplier Agreement may participate. For more information on submission requirements, please contact Morgan McKean, mmckean@brandbuildingpr.com.
Gold Demand Grows in Third Quarter
London, United Kingdom—Gold demand in the third quarter of 2011 grew 6% compared to the same period last year, to a total value of $57.7 billion, an all-time high. According to the World Gold Council’s Gold Demand Trends report for the third quarter of 2011, released today, the increase was driven by investment demand, which rose 33% year-on-year, generating a record quarterly demand of $25.6 billion. Also in the report:
- Investment demand in Europe reached a record quarterly value of 4.6 billion euros, even given the sharp gold price correction in September that encouraged a wave of profit-taking among bar and coin investors.
- Chinese demand grew 13% year-on-year. The bulk of this increase was seen in smaller cities as retail chains expanded their networks to meet increasing demand fuelled by rising income levels.
- Third-quarter jewelry demand in India dropped 26% in tonnage compared to the same quarter in 2010, but yearly demand to the end of September remains very close to the record levels seen in 2010.
- The quarterly average price rose 39% from year earlier levels to U.S. $1,702.12, while the gold price reached a new record of U.S. $1,895.00 in early September.
- Global demand for gold jewelry in the third quarter of 2011 was 10% below year-earlier levels of 518.9 tons. In value terms, however, demand reached a quarterly record of US $25.5 billion, 24% higher than the third quarter of 2010.
- Central bank net purchases amounted to 148.4 tons, as they continued to increase their allocation to gold as a percentage of total reserves.
- Gold supply was 2% higher than year-earlier third quarter levels. Mine production increased by 5% during the third quarter of 2010.
- Despite record prices being reached during the quarter, recycling activity was relatively modest. Third quarter 2011 gold recycling accounted for 426.5 tons of supply, up 13% year-on-year.
A copy of the third quarter Gold Demand Trends report, which includes comprehensive data, can be viewed here.
World Diamond Council Meeting Set for Vicenza
New York—The World Diamond Council has announced its next meeting will take place May 13-14, 2012, in Vicenza, Italy. Fiera di Vicenza, which hosts the jewelry fairs there, will host this meeting. With the Marange issue resolved, the Council will address other pressing matters, such as the structure of the Kimberley Process.