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Women prefer gold jewellery as purse strings tighten – WGC

LONDON, December 15, 2008 – Gold jewellery is the most popular item for women’s discretionary spending despite the global squeeze on spending and competition from other goods, according to a World Gold Council survey.

“Despite a volatile and rising gold price, gold jewellery has maintained its global position as the most popular item chosen by a woman spending her discretionary income on herself,” said Philip Olden, Managing Director of the WGC.

“It is clear that gold’s inherent and lasting value sets it apart from other products, and this benefit, combined with its enduring emotional appeal, are major drivers of women’s purchasing.”

The survey, “What Women Want: Global Discretionary Spending Report”, was conducted by independent research firm GfK in the key gold jewellery markets of India, China, Saudi Arabia, Italy, Turkey and the United States.