Linda Fornara Bertona
Further bullish sentiment for gold prices in 2023. Analysts had already predicted it at the end of the war in Ukraine. Gold has seen a rally in the last six months, crossing the threshold of 59 euros per gram in April. Even if it is not new that gold remains the safe haven par excellence in times of crisis and war, the numbers leave us amazed. More than an increase, it was a gold and jewels boom.
In 2022, the Italian gold jewellery industry maintained the strengthening and expansion that had begun in 2021 in response to the pandemic problem.
"Notwithstanding a minor decline in global demand for gold jewellery (-2.9%), the industry displayed a strong degree of competitiveness on foreign markets and surpassed the EUR 9Bn export value with an increase of 19.8% over 2021 and 41% over pre-crisis levels. The United States is still the major outlet market for Italian gold jewellery exports with EUR 1.5Bn, the US accounts approximately 15% of international sales with a value increase of 12%, backed by a favourable export exchange rate", says Italian Club degli Orafi and Intesa Sanpaolo Bank.
Assumptions of a slowdown in global growth are discounted in 2023 forecasts: to strengthen the competitiveness and stability of companies in the sector, it will become increasingly important to accelerate investments aimed at improving the efficiency of production processes and bolstering the dominance of foreign markets.