Italians sell less gold. Jewelers and shops specializing in the purchase of household jewelry, to be melted down and transformed into ingots, have decreased along with the price of the yellow metal, which has fallen by 30% in one year. According to data from Antico (National Association for the Protection of Gold Buyers), the number of gold buyers, including jewelry stores, has decreased by 35% in 12 months. There are now 23,000 authorized shops, instead of the 35,000 of the boom period between 2011 and 2012.
Obviously, the turnover of the business has also halved, to 250-300 million euros from 550-600 million. In any case, the sale of family jewelry has been a phenomenon of great importance: 17 million Italians, driven by the crisis, have sold their precious items to gold buyers. The value of rings, earrings and necklaces sold has been calculated at 8 billion euros for 200 tons. About 28% of Italians have sold their gold. But now that there is less pessimism and the metal is worth less, the rush to sell is over.
