For centuries, gold jewelry was not only something beautiful to wear, it was also a store of wealth and value. But the 14-karat gold jewelry found in your local store isn’t the best option for investment. Now there is an alternative for people who want to own beautiful jewelry that will also serve as a store of value.
Mene is an ancient word for money. A new company by that name prices its jewelry by weight and a transparent premium. Mene also allows customers to track the value of their jewelry like an investment portfolio and sell back or exchange pieces back to the company.
In this special episode of the Schiff Report, Peter Schiff interviews Mene founder and CEO Roy Sebag. They not only talk about the company and this unique way to invest, but they also talk about the fundamental reasons you want to own gold.
The Chinese gold jewelry market reversed three years of declines in 2017, marking its first gain since a 2013 boom. According to a report released by the World Gold Council, the modest increase in gold jewelry demand last year could mark a return to sustained growth thanks to continued efforts to reinvigorate the industry through innovation, along with growing Chinese incomes.
The Chinese jewelry market is an important component in the overall global demand for gold. Jewelry accounts for more than half the yearly gold demand, and the Chinese make up about 30% of the gold jewelry market.
Sales of silver jewelry in the US were strong last year, according to a survey conducted by the Silver Institute.
US retailers reported 17% average growth in the sale of silver jewelry in 2017.
Silver demand for industrial applications as well as jewelry production is expected to increase in 2018, pushing overall demand higher.
The Silver Institute outlined silver market trends for 2018, along with the latest technological innovations involving the white metal in its latest issue of Silver News.
Gold consumption in China grew 9.41% in 2017, according to information released by the China Gold Association. Gold jewelry demand, especially in poorer regions, helped drive overall demand higher.
The Chinese consumed 1,089 tons of the yellow metal last year. The South China Morning Post called the surge in demand “a big turnaround” after a 6.7% slump in 2016.
The Indian government has reversed a tax rule that was putting a damper on gold demand in the country.
The government included Indian jewelers under the Prevention of Money-Laundering Act last August. The rules increased compliance requirements for high dollar jewelry purchases. Buyers had to provide their income tax identity for transactions above 50,000 rupees ($766). According to the Economic Times, the requirements were hindering high-value deals.
