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As on Oct 19, 2018 12:00 AM Your results on : Mid Session    
Commodities Buzz: EU Cereal Production To Decline 8 percent In 2018
19-Oct-2018 (16:11)
Hot Commodities: Barley Speeds Up To Fresh Contract High On Production Outlook
19-Oct-2018 (16:10)
Commodities Buzz: Argentina Soyabean Plantation To Rise In 2018/19
19-Oct-2018 (16:08)
Commodities Buzz: BHP Billiton embracing the boom in electric car batteries
19-Oct-2018 (15:57)
Commodities Buzz: Arrivals of Onions Expected To Increase Significantly Within Week
19-Oct-2018 (15:30)
Economic Buzz: Euro Area Current Account Surplus Increases In August
19-Oct-2018 (15:29)
Market Speaks: China's Gold Jewellery Market Has Significant Potential To Drive Further Growth
19-Oct-2018 (14:48)

China’s jewellery market is recovering following several difficult years. Significant improvements have already been made but more could be done to meet the needs of China’s modern consumers, according to Gerry Chen, Director of Trade Engagement in China for the World Gold Council. In a latest update from the WGC, Chen noted that China’s jewellery market is the largest in the world, accounting for 30% of global demand. But it is a market in flux. Traditionally, Chinese consumers purchased gold jewellery purely for its gold content. Today, there is a growing focus on adornment, as younger consumers in particular look to gold jewellery as a means of expressing their identity, gaining social recognition and embracing change.

Shifting tastes have had a notable effect on the market. Following rapid economic growth and rising wealth, demand reached its peak in 2013. But the market tailed off in subsequent years, leaving the sector with too many stores, excess capacity and fierce price competition. A painful period of reinvention followed, as jewellers focused on boosting their appeal to younger consumers through a more diverse product mix and a deeper digital presence.

These efforts have delivered encouraging results. Jewellery demand grew in 2017 for the first time since 2013 and growth should continue, provided the industry continues to innovate and adapt to changing consumer tastes. The update noted that considerable progress has been made over the past few years and these efforts are already yielding results, particularly among the more pioneering retailers. There is significant potential to drive further growth, leveraging China’s continued economic expansion and increasing disposable income.

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