Mood at IJL upbeat despite worries over costs, security
LONDON, September 8, 2011 – The mood at International Jewellery London (IJL – September 4-7, 2011) was upbeat despite worries over soaring and volatile precious metals prices and heightened concern over the security of jewellers during tough economic times after the London riots.
Gold’s premium over platinum prices forced the sector to focus on the good value of platinum jewellery relative to gold and should be seen as an exciting marketing opportunity for platinum, jewellers and industry officials attending the event said.
As gold reached new record peaks, jewellers and designers focused increasingly on alternative materials, including silver, titanium, base metals and pearls. Some predicted a big comeback for 9-ct gold.
Gold jewel designs at IJL were in many cases lighter, in order to keep gold jewellery accessible to people.
UK jewellers also spoke of their concerns over the security of their premises after the recent London riots, adding that publicity about the surging gold price, combined with a worsening economic backdrop, had made them increasingly vulnerable.
One jeweller privately described a recent violent attack that he had experienced earlier this year when thugs targeted, ambushed and robbed a colleague in broad daylight in the street in London.
Caught up in the assault, he was badly beaten up and forced to miss work for four months while he recovered.