Silver Jewelry Popular Among US Consumers In 2013: Silver Institute

San Francisco (Mar 19)  Almost three quarters of U.S. jewelry retailers surveyed by the Silver Institute sold more silver jewelry in 2013 than 2012, according a Tuesday report from the industry lobby.

But sales volumes didn’t increase by much, with an average increase in sales of just 17 percent. About a third of the 2,700 shops represented also saw the same or lesser sales over the holiday season.

The sales statistics come after silver prices plunged in 2013. Silver was the second-worst-performing commodity in 2013, down 36 percent and faring worse than its more influential cousin gold, which fell 28 percent.

Gold consumers capitalized on gold’s price plunge in April 2013, stocking up on small gold items like jewelry. According to the survey, silver jewelry priced at less than $500 represented 92 percent of all sales in 2013, suggesting a similar trend.

Source: ibTimes