OREANDA-NEWS In the first six months of 2024, Russian residents bought jewelry worth 199 billion rubles. This is the conclusion reached by the experts of the Sokolov analytical center, who studied the dynamics of the market. 

The result was almost 30 percent higher than in the same period last year. This trend is explained by an increase in prices: since the beginning of 2024, they have increased by 13 percent. If compared with June 2023, the price increase is estimated at 26 percent.

In the first six months of 2024, Russian residents bought jewelry worth 199 billion rubles. This is the conclusion reached by the experts of the Sokolov analytical center, who studied the dynamics of the market.

The result was almost 30 percent higher than in the same period last year. This trend is explained by an increase in prices: since the beginning of 2024, they have increased by 13 percent. If compared with June 2023, the price increase is estimated at 26 percent.

In the second quarter of 2024, global demand for gold fell by six percent and reached 929 tons. Due to record prices for this precious metal, the demand for jewelry has decreased by 19 percent. Investments in retail bullion and coins decreased by five percent.

Pandora brand jewelry turned out to be the most popular jewelry among Russians. In addition, residents of the Russian Federation often buy silver pendants, as well as sterling silver earrings from Tiffany & Co.

During trading on the Comex exchange on August 1, gold reached a new historical maximum, rising above 2.5 thousand dollars per troy ounce.