The gold used in the US jewelry industry and arts has exhibited a declining trend from 2013 to 2023. In 2023, this stood at 145.35 thousand kilograms. Notable year-on-year variations include a significant drop in 2020 by 17.94% and a rebound in 2021 with a rise of 19.14%. The CAGR over the last five years until 2023 was -1.12%, indicating a consistent downturn.
Future forecasts from 2024 to 2028 predict a continued decrease, with a forecasted five-year CAGR of -0.94%, and an overall decline of 4.63% by 2028. Current trends indicate potential market adjustments related to economic conditions, consumer preferences, and alternative materials usage.
Future trends to watch for include:
- Economic fluctuations impacting consumer spending on luxury items.
- Shifts towards sustainable and alternative materials in jewelry.
- Technological advancements in metal processing and jewelry manufacturing.
