Investimenti

Jewelry affected by the coronavirus, but is gold to be sold or purchased?

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How much has the pandemic hit the world of jewelry? And on the price of gold? Is it still worth investing in gold? It is early to do the math, but the latest report from the World Gold Council that examines the first three months of 2020 provides the first answers. The result is predictable: coronavirus has plunged the annual demand for gold jewelry in the first quarter of 2020 by 39% to 325.8 tons, which is the lowest level. If you consider the value, however, the global demand for gold jewelry has fallen less: 26% on an annual basis. And this is because in the meantime the price of gold has gone up: it sells less, but costs more. The quarterly average price of gold was $ 1,582.8 per ounce, or $ 50.88 per gram. Unworked gold, not jewelry.

Lavorazione orafa. Foto: LaPresse
Lavorazione orafa. Foto: LaPresse

China, India, the USA and Europe
Still if we consider the first three months of 2020, the country where the demand has fallen most is China, which is also the first area where the contagion has spread. China is also the largest jewelry market in the world and there the demand for gold has slipped by 65% ​​on an annual basis, the lowest level for over 13 years. Jewelers and closed shops, lockdown: it is not surprising that purchases have precipitated despite government incentives to push consumption.
Gioielleria a Shanghai
Gioielleria a Shanghai

In India too, the demand for jewelry fell, but by 41%. In this case, the sales brake was also caused by the rise in gold prices in mid-February, which led to a slowdown in demand. Then came the covid and in March the demand for jewelry fell from 60% to 80% following the lockdown.
Despite being two areas with many differences, the World Gold Council unites the United States and Europe. In the US, demand has dropped by only 3.7%, but the effects of covid-19 arrived late in the States. The analysis notes, however, that online purchases have mitigated the virus effect. In Europe, where the evil virus has arrived earlier, the drop in gold consumption is double-digit. First quarter demand fell 15% to a record low of 10.8 tons. As expected, the losses were stronger in Italy, the first country hit by the epidemic (-22%), but also the United Kingdom (-20%).
For Middle East and Turkey, no surprise: jewelry sales fell 9-10%, but gold prices in Turkey reached new highs, also because metal was purchased as a safe haven asset.
Vetrina di una gioielleria
Vetrina di una gioielleria

Investments
As for investments, the demand for gold through the financial markets grew by 1%, to 1,083.8 tons. In short, the coronavirus has pushed purchases. Exchange-Traded Funds (ETFs, a type of investment fund) specialized in gold values ​​have attracted strong demand from investors, an effect that has pushed the prices in these products to a new record. Total investment in bullion and coins, on the other hand, fell by 6% year-on-year to 241.6 tons, as a 19% drop in demand for bars at 150.4 tons outstripped the increase in demand for euro coins. ‘gold.
Those who follow the financial aspect will be interested to know that central banks have continued to buy a lot of gold, even if a little less than in the first quarter of 2019: net purchases decreased by 8%. Another aspect that can affect metal prices: covid-19 also caused the interruption of the supply of gold, given that mining production fell by 3%, to a minimum of five years of 795.8 tons. A factor that could push gold further up.

Pepite e lingotti
Pepite e lingotti







Fope, Prima is good





The 2017 of Fope shines thanks to the success of Prima collection and sales in the US and Europe. New investments planned ♦ ︎
Prima is ok. In the sense of Prima collection by Fope. In fact, the Prima jewelery line, presented in 2017, had the merit of increasing the company’s revenues by 20%, without cannibalizing the other collections. The data was communicated to an audience of financial analysts in Milan, during the presentation of the economic results of the jewelry company for 2017. The success of the brand, and of the Prima line in particular, is due to two factors, those that characterize Fope : the style and technology used to make the jewelry. “Hidden in a bracelet Prima, for example, there are up to 150 micro springs, which give elasticity but also softness to the jewel: a system that boasts a worldwide patent”, explained the company’s managing director, Diego Nardin. That, in addition to the continuous renewal of the jewelry lines, has underlined the efforts of the company, listed a couple of years ago on the stock exchange in Milan, in playing on two factors: expansion of distribution and investments in technology.
Export and investments
The goal is achieved. And consolidates by Fope as the second Italian group in the sector, after Damiani, which however has a completely different story. The decision to list on the stock exchange was courageous and, in the panorama of small and medium-sized Italian companies, a rather unusual move. But far-sighted. In fact, the company used the new capital to expand its business. And investors understood this, given that the value of the stock has more than doubled in a year. “There is a significant increase in all the indicators and a strong financial solidity,” stressed Nardin. “The growth in sales has affected the main foreign markets on which we are focusing investments”. For this reason, for example, Fope Usa was set up, a subsidiary that has taken the place of the previous company in America. Abroad, on the other hand, Fope records 80% of revenues. And in 2017 those in the Americas (USA, Canada, Central America) have risen by 22%. But revenues are also going well in Europe (+ 24%): note that Fope Jewelery Limited, a company incorporated under British law, has just been set up. The corporate refocusing moves of the US and British subsidiaries are to be seen, perhaps, also in relation to two non-secondary aspects: the US-Europe tariff war and the Brexit: “We are prepared, in both cases we could use the two company with a simple redevelopment of the company name, “said the manager.
In any case, even Italy, all in all, does not disappoint (+ 9%). Among other things, Nardin pointed out, growth has not been curbed by a retouch of about 5% on part of the price list: that brand’s jewelry is not looking too much linked at price. Lastly, part of the result is also due to the success of the mono-brand boutique opened in Piazza San Marco, which is fully part of the company’s perimeter since last November.
The budget of 2017

Net sales for 2017 amounted to € 28.03 million, an increase of 21.4% compared to € 23.08 for the previous year. Margins also improved: Ebitda (gross result) was 3.9 million (+ 72%) compared to 2.26 in 2016. If you are a shareholder of Fope, you should also know that 600 thousand euros of the net result, increased to 2 , 33 million, will be distributed in the form of dividends, while the rest will remain in the company, because Fope does not stop there. Nardin cited a desire to increase the number of shop-in-shops (now 13) around the world, to open a single-brand store in London and an ambitious project to expand offices and the production site in Vicenza. Last but not least: forecasts for 2018 are positive. It should be another golden year.




Bracciali in oro rosa, bianco e giallo della collezione Prima
Bracciali in oro rosa, bianco e giallo della collezione Prima

Anello in oro e diamanti della collezione Prima
Anello in oro e diamanti della collezione Prima
Diego Nardin, amministratore delegato di Fope, alla presentazione dei dati di bilancio 2018
Diego Nardin, amministratore delegato di Fope, alla presentazione dei dati di bilancio 2018
Collane in oro e diamanti, Fope
Collane in oro e diamanti, Fope
Bracciali della collezione Prima
Bracciali della collezione Prima

Un anno del titolo Fope in Borsa
Un anno del titolo Fope in Borsa







Rapporto: un anno d’oro per i gioielli

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Collana d'oro

È stato un anno d’oro per i gioielli. È il caso di dirlo: lo attesta, infatti, il World Gold Council’s Gold Demand Trends. L’analisi indica che il 2013 ha visto il più grande aumento in volume della domanda di gioielli da 16 anni, grazie alla diminuzione del prezzi dell’oro. La domanda è stata del 17 % superiore a quella del 2012 e ha toccato il livello più alto dall’inizio della crisi finanziaria del 2008.

Questo grafico mostra la quota dell'oro sul prodotto interno lordo mondiale
Questo grafico mostra la quota dell’oro sul prodotto interno lordo mondiale

Record di vendite

Il settore della gioielleria ha visto una crescita continua per tutto il 2013, con il grosso dell’aumento concentrato nella prima parte dell’anno. È interessante notare che, invece, gli Stati Uniti e nel Regno Unito hanno generato buona parte della crescita nell’ultima parte dell’anno. Sebbene il quarto trimestre sia tradizionalmente più importante per questi mercati, a causa dell’effetto Natale, la crescita è da sottolineare per la dimensione e la modalità: è stato il primo aumento anno su anno della domanda del quarto trimestre in entrambi i mercati dal 2001. Il valore in dollari degli acquisti di gioielli negli Stati Uniti è però sceso dal livello record del 2012, a causa del ribasso generale dei prezzi. Ma il calo è stato solo del 2% (meno della discesa dei prezzi), cifra che dimostra chiaramente la forza della domanda dei consumatori in termini di volume. Nuovi record sono stati fissati in India, Cina e Turchia, mentre il Giappone ha registrato il valore più alto dal 2008.

La domanda di gioielleria d'oro, misurata in tonnellate
La domanda di gioielleria d’oro, misurata in tonnellate

Gioielli come investimento

Un’analisi a lungo termine mostra che dal 2003 una quota crescente di ricchezza collettiva globale è stata convertita in gioielli d’oro (con l’eccezione del 2009, durante la peggiore di la crisi finanziaria). Nel 2013, il valore di gioielli di metallo giallo è stato quasi dello 0,14 % del Pil mondiale, confrontato con meno dello 0,08 % dei dieci anni precedenti. Significativamente, la quota di vendita di pezzi di gioielleria nel mondo è stata un quinto superiore a quella del 1997, che è stato l’anno di picco per la domanda di gioielli in oro misurata per peso.

Cala la fascia bassa

Un altro trend è la crescente preferenza per i gioielli con maggiori carati. Anche perché chi acquista gioielli per fare un investimento desidera pezzi che possano conservare valore nel tempo, quindi di qualità maggiore. Negli Stati Uniti, dove il segmento di fascia alta è stato relativamente robusto, questa tendenza è risultata ancora più evidente, con marchi commerciali di massa che hanno diminuito la produzione più a buon mercato per salire nella fascia di gioielli da 14 carati.

La variazione della domanda di oro rispetto al 2012, espressa in tonnellate
La variazione della domanda di oro rispetto al 2012, espressa in tonnellate

Non solo gioielli

Nonostante il costo del metallo giallo sia sceso (o forse proprio a causa di questo) la domanda di lingotti e monete è salita al massimo storico di 1.654 tonnellate. Pochi sanno che l’oro è utilizzato anche in alcuni dispositivi tecnologici. Ma da questo punto di vista non ci sono state novità: la domanda annuale di oro usato nell’elettronica si è stabilizzato a 404,8 tonnellate, da 407,5 nel 2012. Invece, le banche centrali hanno approfittato del ribasso per aumentare le proprie riserve per 368,6 tonnellate. Federico Graglia 

Lingotti d'oro
Lingotti d’oro

ukReport: boom in gold jewelry

It was a golden year for jewelry. It must be said : he affirms, in fact, the World Gold Council ‘s Gold Demand Trends. The analysis indicates that 2013 saw the largest increase in the volume of demand for jewelry for 16 years, thanks to the decline in gold prices. The demand was 17 % higher than that of 2012 and reached its highest level since the financial crisis of 2008.

The jewelry industry has seen continued growth throughout 2013, with the bulk of the increase concentrated in the first part of the year. Interestingly, however, the United States and the United Kingdom have generated most of the growth in the latter part of the year. Although the fourth quarter is traditionally the most important for these markets, because of Christmas, the growth is remarkable for the size and mode : it was the first year -over-year increase in demand in the fourth quarter in both markets since 2001. The dollar value of purchases of jewelry in the United States, however, is down from the record level of 2012, due to the general decline in prices. But the decline was only 2% (less than the drop in prices), a figure that clearly demonstrates the strength of consumer demand in terms of volume. New records were set in India, China and Turkey, while Japan recorded the highest value since 2008.

Jewellery as an investment

Long-term analysis shows that since 2003, an increasing share of global collective wealth has been converted into gold jewelry (with the exception of 2009, during the worst of the financial crisis). In 2013, the value of yellow metal jewelry was almost 0.14% of world GDP, compared with less than 0.08 % of the previous ten years. Significantly, the share of sales of pieces of jewelry in the world was a fifth higher than that of 1997, which was the peak year for the demand for gold jewelery measured by weight.

Cala low-end

Another trend is the growing preference for higher karat jewelry. Also because those who buy jewelry to make an investment like pieces that can retain value over time, and higher quality. In the United States, where the high-end segment has been relatively robust, this trend was even more evident, with trademarks that have diminished the mass production cheaper to go up in the range of 14- karat jewelery.

Not only jewelry

Despite the cost of the yellow metal has fallen (or perhaps because of it) the demand for gold bars and coins rose to a record high of 1,654 tons. Few people know that gold is also used in some technological devices. But from this point of view, there were no novelty: the annual demand for gold used in electronics has stabilized at 404.8 tonnes from 407.5 in 2012. Instead, central banks have taken advantage of the downturn to increase its reserves to 368.6 tons.

france-flagRapport : le boom des bijoux en or

Il a été une année en or pour les bijoux. Il faut dire : il affirme, en effet, les tendances de la demande d’or de la World Gold Council. L’analyse indique que l’année 2013 a vu la plus forte augmentation du volume de la demande pour les bijoux depuis 16 ans, grâce à la baisse des prix de l’or. La demande était de 17% supérieur à celui de 2012 et a atteint son plus haut niveau depuis la crise financière de 2008.

L’ industrie de la bijouterie a connu une croissance continue tout au long de 2013, avec le gros de l’augmentation concentrée dans la première partie de l’année. Fait intéressant, toutefois, les États-Unis et le Royaume-Uni ont généré le plus de la croissance dans la dernière partie de l’année. Bien que le quatrième trimestre est traditionnellement le plus important de ces marchés, en raison de Noël, la croissance est remarquable par la taille et le mode : c’était la première augmentation d’année en année de la demande au quatrième trimestre sur les marchés depuis 2001. La valeur en dollars des achats de bijoux aux États-Unis, cependant, est en baisse par rapport au niveau record de 2012, en raison de la baisse générale des prix. Mais la baisse n’était que de 2 % (moins de la baisse des prix), un chiffre qui démontre clairement la force de la demande des consommateurs en termes de volume. Nouveaux records ont été établis en Inde, en Chine et en Turquie, tandis que le Japon a enregistré la valeur la plus élevée depuis 2008.

Bijoux comme un investissement

Analyse à long terme montre que, depuis 2003, une part croissante de la richesse collective mondiale a été transformé en bijoux en or (à l’exception de l’année 2009, au plus fort de la crise financière). En 2013, la valeur des bijoux en métal jaune était presque 0,14 % du PIB mondial, contre moins de 0,08 % des dix années précédentes. De manière significative, la part des ventes de bijoux dans le monde était une cinquième plus élevé que celui de 1997, qui a été l’année record pour la demande de bijoux en or mesurée en poids.

Cala bas de gamme

Une autre tendance est la préférence croissante pour plus de bijoux de carats. Aussi parce que ceux qui achètent des bijoux pour faire un investissement comme les pièces qui peuvent retenir la valeur au fil du temps, et de meilleure qualité. Aux États-Unis, où le segment haut de gamme a été relativement robuste, cette tendance est encore plus évident, avec des marques qui ont diminué la production de masse moins cher d’aller dans la gamme de 14 carats bijoux.

Non seulement bijoux

Malgré le coût du métal jaune a chuté (ou peut-être à cause de cela) la demande de lingots et pièces d’or a atteint un niveau record de 1 654 tonnes. Peu de gens savent que l’or est également utilisé dans certains appareils technologiques. Mais de ce point de vue, il n’y avait pas une nouveauté : la demande annuelle de l’or utilisé dans l’électronique s’est stabilisé à 404,8 tonnes de 407,5 en 2012. Au lieu de cela, les banques centrales ont profité de la crise pour augmenter ses réserves de 368,6 tonnes.

german-flagReport: der Boom in Goldschmuck

Es war ein goldenes Jahr für Schmuck. Es muss gesagt werden : er behauptet, in der Tat, Gold Demand- Trends des World Gold Council ist. Die Analyse zeigt, dass 2013 gab es die größte Steigerung des Volumens der Nachfrage nach Schmuck für 16 Jahre, dank der Rückgang des Goldpreises. Die Nachfrage war 17% höher als die von 2012 und erreichte den höchsten Stand seit der Finanzkrise von 2008.

Die Schmuckindustrie weiterhin Wachstum in 2013 zu sehen ist, wobei der Großteil der Zunahme des ersten Teils des Jahres konzentriert. Interessant ist jedoch die Vereinigten Staaten und das Vereinigte Königreich haben die meisten das Wachstum in der zweiten Hälfte des Jahres erzeugt. Obwohl das vierte Quartal ist traditionell das wichtigste für diese Märkte, weil von Weihnachten, ist das Wachstum bemerkenswert für die Größe und Art : Es ist das erste Jahr gegenüber dem Vorjahr gestiegene Nachfrage im vierten Quartal in beiden Märkten war seit 2001. Der Dollarwert der Käufe von Schmuck in den Vereinigten Staaten, ist jedoch nach dem Rekordniveauvon 2012, aufgrund der allgemeinen Preisrückgang. Aber der Rückgang lediglich 2% (weniger als der Rückgang der Preise), eine Zahl, die deutlich die Stärke der Nachfrage der Verbraucher in Bezug auf das Volumen. Neue Rekorde wurden in Indien, China und der Türkei errichtet, während Japan die höchste Wert seit 2008.

Schmuck als Investition

Langzeit-Analyse zeigt, dass seit 2003 ein zunehmender Anteil der globalen kollektiven Reichtum wurde in Goldschmuck (mit Ausnahme des Jahres 2009, während der schlimmsten der Finanzkrise) umgewandelt. Im Jahr 2013 war der Wert des gelben Metalls Schmuck fast 0,14% des Welt-BIP, verglichen mit weniger als 0,08% der in den letzten zehn Jahren. Bezeichnenderweise ist der Anteil der Verkäufe von Schmuckstücken in der Welt war ein Fünftel höher als die von 1997, der das Spitzenjahr für die Nachfrage nach Goldschmuck nach dem Gewicht bestimmt war.

Cala Low-End-

Ein weiterer Trend ist die wachsende Vorliebe für höhere Karat Schmuck. Auch, weil diejenigen, die Schmuck kaufen, um eine Investition wie die Teile, die den Wert über die Zeit höhere Qualität halten kann, und zu machen. In den Vereinigten Staaten, wo die High-End- Segment ist relativ robust gewesen war, war dieser Trend noch deutlicher, mit Marken, die der Massenproduktion billiger vermindert zu haben, um im Bereich von 14 -karätigem Schmuck steigen.

Nicht nur Schmuck

Trotz der Kosten für das gelbe Metall ist gefallen (oder vielleicht gerade deswegen) ist die Nachfrage nach Goldbarren und Münzen stieg auf ein Rekordhoch von 1.654 Tonnen. Nur wenige Menschen wissen, dass Gold auch in einigen technischen Geräten verwendet. Aber von diesem Standpunkt aus gab es keine Neuheit : Die jährliche Nachfrage nach Gold in der Elektronik hat sich auf 404,8 Tonnen von 407,5 im Jahr 2012 stabilisiert. Stattdessen haben die Zentralbanken Vorteil der Abschwung getroffen, um seine Reserven zu 368,6 Tonnen erhöhen.

flag-russiaДоклад: бум в золотых ювелирных изделий

Это был золотой год для ювелирных изделий. Надо сказать, : он утверждает, на самом деле, Золотые Тенденции спроса Всемирного совета по золоту в. Анализ показывает, что 2013 был отмечен наибольший рост объема спроса на ювелирные изделия в течение 16 лет, благодаря снижению цен на золото. Спрос был на 17% выше, чем у 2012 году и достиг самого высокого уровня с момента финансового кризиса 2008 года.

Ювелирная промышленность видел постоянный рост в течение 2013 года, при этом большая часть увеличения сосредоточены в первой половине года. Интересно, однако, Соединенные Штаты и Соединенное Королевство породили большую часть роста во второй половине года. Хотя в четвертом квартале традиционно является наиболее важным для этих рынков, из-за Рождества, рост отличается от размера и режима : это был первый год за годом рост спроса в четвертом квартале на обоих рынках с 2001 года. Долларовая стоимость покупки ювелирных изделий в Соединенных Штатах, однако, по сравнению с рекордным уровнем 2012 года, в связи с общим снижением цен. Но снижение было только 2% (меньше, чем падение цен), и эта цифра явно демонстрирует силу потребительского спроса по объему. Новые рекорды были установлены в Индии, Китае и Турции, в то время как Япония записал наибольшее значение с 2008 года.

Ювелирные изделия в качестве инвестиций

Долгосрочный анализ показывает, что с 2003 года, увеличение доли глобального коллективного богатства была преобразована в золотых ювелирных изделий (за исключением 2009 года, во время худшего финансового кризиса). В 2013 году стоимость желтого металла ювелирных изделий почти 0,14 % мирового ВВП, по сравнению с менее чем 0,08 % от предыдущих десяти лет. Важно отметить, что доля продаж украшений в мире был пятый выше, чем у 1997 году, который был пиковым годом для спроса на золотые украшения, измеренной по весу.

Кала низким уровнем конца

Другой тенденцией является растущее предпочтение более высокой пробы ювелирных изделий. Кроме того, поскольку те, кто покупает драгоценности, чтобы сделать инвестиции, как части, которые могут сохраняют ценность с течением времени, и более высокого качества. В Соединенных Штатах, где высокого класса сегмент был относительно высоким, эта тенденция была еще более очевидной, с товарными знаками, которые уменьшились массовое производство дешевле подняться в диапазоне 14 -каратного ювелирных изделий.

Не только ювелирные изделия

Несмотря стоимость желтого металла упала (или, возможно, из-за этого) спрос на золотые слитки и монеты вырос до рекордно высокого уровня 1654 тонн. Мало кто знает, что золото также используется в некоторых технологических устройств. Но с этой точки зрения, не было новинкой : годовой спрос на золото используется в электронике стабилизировалась на уровне 404,8 тонн по сравнению с 407,5 в 2012 году. Вместо этого, центральные банки воспользовались спадом увеличить свои резервы для 368,6 тонн.

spain-flagInforme: el auge de las joyas de oro

Fue un año de oro para la joyería. Hay que decir : él afirma, de hecho, tendencias de la demanda de oro en el World Gold Council. El análisis indica que 2013 vio el mayor incremento en el volumen de la demanda para la joyería por 16 años, gracias a la disminución de los precios del oro. La demanda fue un 17% superior a la de 2012 y alcanzó su nivel más alto desde la crisis financiera de 2008.

La industria de la joyería ha experimentado un crecimiento continuado a lo largo de 2013, con la mayor parte del aumento se concentró en la primera parte del año. Curiosamente, sin embargo, los Estados Unidos y el Reino Unido han generado la mayor parte del crecimiento en la última parte del año. Aunque el cuarto trimestre es tradicionalmente el más importante para estos mercados, debido a la Navidad, el crecimiento es notable por el tamaño y el modo : fue el primer aumento del año-sobre – año de la demanda en el cuarto trimestre en los mercados desde 2001. El valor en dólares de las compras de joyas en Estados Unidos, sin embargo, se ha reducido desde el nivel récord de 2012, debido a la disminución general de los precios. Pero la caída fue sólo del 2% (menos de la caída de los precios), una cifra que demuestra claramente la fortaleza de la demanda de los consumidores en términos de volumen. Los nuevos registros se establecieron en la India, China y Turquía, mientras que Japón registró el valor más alto desde 2008.

La joyería como una inversión

Análisis a largo plazo muestra que, desde 2003, una parte creciente de la riqueza colectiva global se ha convertido en joyas de oro (con la excepción de 2009, durante lo peor de la crisis financiera). En 2013, el valor de las joyas de metal amarillo era casi el 0,14% del PIB mundial, en comparación con menos del 0,08 % de los diez años anteriores. Cabe destacar que la participación de las ventas de piezas de joyería en el mundo era una quinta más alta que la de 1997, que fue el año pico de la demanda de joyas de oro medido en peso.

Cala de gama baja

Otra tendencia es la creciente preferencia por mayor de joyería quilates. También porque los que compran joyas para hacer una inversión como piezas que pueden retener el valor con el tiempo, y la mayor calidad. En los Estados Unidos, donde el segmento de gama alta ha sido relativamente robusta, esta tendencia fue aún más evidente, con las marcas que han disminuido la producción en masa más barato que ir en la gama de joyas de 14 quilates.

No sólo de la joyería

A pesar del costo del metal amarillo ha caído (o quizá debido a ella), la demanda de barras y monedas de oro subió a un récord de 1.654 toneladas. Pocas personas saben que el oro también se utiliza en algunos dispositivos tecnológicos. Pero desde este punto de vista, no había ninguna novedad : la demanda anual de oro utilizado en la electrónica se ha estabilizado en 404,8 toneladas de 407,5 en 2012. En lugar de ello, los bancos centrales se han aprovechado de la crisis para aumentar sus reservas a 368.6 toneladas.

Soldi: l’argento perde quota

Notizia per i gioiellieri, ma anche per chi progetta di acquistare gioielli di un certo calibro: l’argento è malato. Il 20 maggio, il prezzo «spot» dell’argento è sceso sotto i 22 dollari l’oncia, il livello più basso da oltre due anni. E questo potrebbe essere solo l’inizio, secondo due analisti Citibank. «Dopo quasi un decennio di aumento dei prezzi d’argento, ci aspettiamo che la combinazione di crescita dell’offerta mio e del rallentamento della domanda di continuare a tenere i prezzi d’argento sotto pressione», hanno scritto in un report gli analisti. Il crollo dell’argento segue quello dell’oro. Il metallo giallo veleggia intorno ai 1.340 dollari l’oncia. Per concludere: se avete argento da vendere, attenti che domani potrebbe valere meno. Federico Graglia

 

Bracciale d'argento
Bracciale d’argento

 

Anello d'argento
Anello d’argento

 

Il prezzo dell'argento nell'ultimo anno
Il prezzo dell’argento nell’ultimo anno

 

Lingotto d'argento
Lingotto d’argento

News for jewelers, but also for those planning to buy jewelry of a certain caliber, the silver is sick. On 20 May, the price “spot” silver fell below $ 22 an ounce, the lowest level in over two years.

It is a good business to invest in jewelry

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Investing in jewelry is a real bargain. Especially in times of economic turbulence, such as what we live for a few years. It supports the Monte dei Paschi di Siena, which has carried out a study on the art market and that of precious metals. The survey analyzes the art market of the MPS market performance of painting, divided into three segments of reference, summarizing the results of the largest transactions of auction houses ( about 1,550 observations total) in three indices according to the period historical reference : MPS Art Old masters and 19th century Index, MPS and MPS Index Art Pre War Post War Art Index. The evidence of the 3 indices are then summarized in the Global MPS Painting Art Index.

But, as anticipated, the discussion does not end here. Experts have also introduced indexes that aim to analyze the trend of so-called minor arts : antiques, furniture and sculptures, jewelry, wine and photography. Within the minor arts, we analyzed the performance of the sector Jewels compared to other minor arts given the particular function as a safe haven covered in this segment.

The most important segment after painting, in fact, is represented by jewelry and watches, whose temples stand out for their high average turnovers and weighs a total of 14.2% of total revenues ( +3.1% compared to the portion of the first half 2010). This segment is expected to grow further by the experts of MPS, especially given the success that the rods of precious stones and are enjoying all the squares on the continent.

Conclusions : The weight between the various segments still seems to be intended to change, with a strengthening of the minor arts that show, in just the last calendar year and in all categories, the best performance in terms of percentage changes compared to the MPS Global Painting Art Index.

The MPS Jewels index summarizes the trend of the auctions of jewelery, watches and precious stones of the most important international centers : Geneva, London, New York and Hong Kong. The segment shows the growth rates of the most interesting segment of the minor arts, with an increase of 160.8 % over the last 5 years ( first half of 2011 over the first half of 2006).

In comparison with the MPS Minor Arts Index Without Jewels ( +71.0 % between 2006 and 2011 ), it is evident success of the jewelery, which at the moment are confirmed safe haven par excellence, with a performance estimate for 2011 +10, 0% (latest data considered in the study ).

The jewelry will also reveal a rather good ‘liquid’, at least for the high quality pieces : the rods considered to show that the branded jewelery or antiques are a safe investment. In addition to diamonds are always very popular natural stones ( untreated) and natural pearls (not cultivated ). The success of the segment can be attributed to two main reasons: 1 ) the jewelry is seen as a safe haven warranty, and 2) the value of the underlying ( gold, silver, diamond… ) has grown significantly in this period of recession.

Of course, it is not automatically sell a gem, but no more than a painted picture. The unsold rates recorded in the last five semesters, note analysts Sienese bank, settle in the region of the five-year average rates ( average rate per lot 21.4%, 17.6% by value ), and below the peaks achieved in 2008 : the market in the last two years seems to have found a sustainable balance for supply and demand.

Compared to the past, the demand for precious focuses more on top quality diamonds, colored stones with particular as to the Burmese rubies, Kashmir sapphires and for the Colombian (Muso ) for emeralds.

On the square in New York are appreciated especially great carat white diamonds, as well as large colored stones and colored diamonds. The jewels of the ’20s and ’50s are very welcome in both the old and the new continent. The UK market is more geared towards the cushion cut diamonds for their particular for their luster and charm. In Italy is more and more interest in the vintage jewelry, thanks to a consolidated goldsmith tradition that has produced manufacturing, design and proportions of high quality. The signatures, known internationally, they add value to the jewel with exquisite designs and a perfect bill.

There are, finally, advice for those who decide to embark on an investment in diamonds. It is necessary, experts explain, evaluate the so-called 4 C’s : color ( color), purity ( Clarity ), cut ( Cut) and carat ( Carat ). Not to be overlooked, moreover, proportions, fluorescence and polishing.

The market for fine jewelry is synthesized in a series of graphs. The performance of the MPS Jewels Market Value Index in the entire observation period (September 2008 – September 2011) is quite positive ( +63.5 %) and superior to other national stock indices considered, all in negative territory : SMI ( -4, 9%), CAC 40 ( -36.7 %) ** and FTSE MIB ( -54.5 %) with the exception of S & P 500 ( +2.7%).

The investment in the stock market jewel of luxury appears to be the only positive with respect to the major indices which are representative of 4 -contributing countries, with their society, the definition of MPS Jewels Market Value Index ( Damiani and Bvlgari for Italy, LVMH, Hermès and Dior for France to Switzerland Richemont and Tiffany & Co. for the United States ).

Be careful, though : the dangers out there. The segment of the jewel of luxury, the study continues, it is subjected to numerous threats : 1 ) increasingly strong interest in substitute goods to meet the psycho – physical (eg, travel, spas, gyms, etc. ), 2) increased demand for the productions of the fashion industry, especially by younger people, attracted by prices less prohibitive and innovative features, and 3) preference for fashion products than for products – value ; 4) strong seasonality of sales in some periods of the year ( for jewelry Christmas and Valentine’s Day ), 5 ) the risk of counterfeiting; 6) reputational risk ( for example, when the production is decentralized abroad ) ; 7) change in consumer tastes, often sudden and unreasoned.

The high rates of unemployment and the levels of tax rates in emerging markets are factors that can influence demand. Moreover, the products of the luxury market have good nature of secondary ones, which makes them susceptible to the macroeconomic environment and require a constant upgrading and re-launching the brand.

This is also why in recent months the performance of MPS Jewels Market Value Index was affected by the difficulties in the financial markets ( -20.5 %), but were also negative performance of all other indices ranging from -31.9 % of FTSE MIB to -10.7% for the S & P500.

On the overall performance of the MPS Jewels Market Value Index, however, have impacted primarily LVMH ( -19% approx. ) And Richemont (-23% approx. ) Which together account for about 70%. the entire index.

Little significant effect on the growth performance of the title Bulgari (+50% approx. ) Following the tender offer launched by LVMH, because of its limited weight on the aggregate (4.5% approx. ).