International news within the industry of mining and metal, Nov, 15 2018
Latest News

"Meghan Markle effect increased demand for gold"

Meghan, the Duchess of Sussex, has said that she prefers yellow gold in her jewels. This comment skyrocketed the demand, experts say. Photo: Wikipedia, credit: Royal Office, GB
Meghan, the Duchess of Sussex, has said that she prefers yellow gold in her jewels. This comment skyrocketed the demand, experts say. Photo: Wikipedia, credit: Royal Office, GB
Published by
Markku Björkman - 28 May 2018

Demand for gold in the US increased to nine-year-high in the first quarter of the year. Sussex's fresh Duchess can take a big deal of honor for the latest gold boom, gold experts believe.

Meghan, the Duchess of Sussex, has said that she prefers yellow gold in her jewels. This comment skyrocketed the demand.

The first three months of 2018 had the strongest demand for gold in the United States since 2009, according to the World Gold Council.

The famous actor, who a week ago became the Duchess of Sussex when she married Britain's Prince Harry, prefers yellow gold, according to Reuters.

- At the time of their engagement, we began to see increased sales of yellow gold. Gold sales have increased by 30 percent so far this year, New York-based goldsmith David Borochov told the news agency.

"In the last fifteen years, it was the white gold, silver, and platinum, which were the leading metals among couples who promised each other fidelity, told the goldsmith, Reuters has spoken to. In recent years, the sale of pink gold has also expanded, while yellow gold has been considered to be outdated.

According to Borochov, 70 to 80 percent of the gold he sells is white gold and platinum, while between 20 and 30 percent have been yellow and pink gold. Now he expects that the last two will increase significantly. He is supported in this analysis by Goldsmith Nerik Shimunov on Crown Jewelers in New York.

- We saw an increase of about 20 percent in the sale of yellow gold from the beginning of the year, told Shimunov for Reuters.

A third goldsmith, Daniel Levy, says gold sales increased by 10 percent shortly after the royal couple's engagement, but mainly because of an excess of white gold. Yet he sees a noticeable change over to the yellow variant.