The
ANNOTICO Report
Italy
used to dominate the world's gold jewelry manufacturing sector but has been
recently overtaken by India, with China and Turkey also closing in, with lower
labour costs
Italian
jewelers must now focus on high-end, top-quality products.
The
From Reuters
"What
our manufacturers have to do is to get rid of products with low added value
which could be produced in the countries with low labour
costs," said Valentino Ziche, chairman of Vicenza Gold Fair, a global showcase for the latest
industry trends.
"We
must make a leap in quality and produce beautiful things of high value,
distinguishable from those made, say, in
According
to British-based GFMS precious metals consultancy, Italian gold jeweler's
output fell 10 per cent to 275 tonnes in 2005, its
lowest level since 1988, while gold manufacturing in
"A
30 per cent fall is a lot. But it does not scare me if the 30 per cent fall in
volume is compensated by a 30 per cent increase in the value of sales," Ziche said.
Gold
prices have been highly volatile, falling 10 per cent last week, but hitting a
26-year high of $US730 ($1170) per ounce on May 12. Silver prices have nearly
doubled since the end of November.
The
ANNOTICO Reports are Archived at:
Italia
Italia
Mia: http://www.ItaliaMia.com