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JEWELLERS IN SINGAPORE EXPECTING SALES TO DROP AS MUCH AS 40% AMID COVID-19 UNCERTAINTIES
Jewellers in Singapore expecting sales to drop as much as 40% amid COVID-19 uncertaintiesLOWER GOLD PRICES DRIVE DEMAND UP BY 20%
The drop in gold prices has prompted many to buy gold jewellery, thus demand has risen by about 20%. Wedding jewellery is especially popular.Local jewellers lament costs, margin pressures
Faced with tough times due to higher precious metals prices and near-term outlook continuing to be less than rosy .....Local jewellers wrestle with challenges that have never been before........Frontline – Gold, Gold, how much is your dazzle?
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The highest gold price ever recorded in history, at beyond USD2,000 per ounce, could only be maintained for a week before dipping again. Even with 7 years of new highs for the price of silver, it s...