Economy

Demand for gold across the UK increases 50% in the last 12 months

Demand for gold across the UK has increased 50% between July 2024 and June 2025, according to data from Gold Bank London. This latest insight direct from Gold Bank London takes into account the retailer’s sales from across the country, which includes both online and in-store transactions. Consumers continue to…

Read More »

NAJ joins Creative UK to champion jewellery industry

The National Association of Jewellers (NAJ) has joined Creative UK in a bid to raise the profile of jewellery, silverware and allied trades within the creative industries. The move comes after the Department for Culture, Media and Sport (DCMS) recognised the jewellery sector’s contribution to the UK creative economy last…

Read More »

Warm weather fails to boost footfall in May

Retail footfall across the UK declined by 1.7% compared with May 2024, spelling a sharp drop from the 7.2% rise recorded in April, according to the latest data from the British Retail Consortium (BRC) and Sensormatic Solutions. The downturn affected most retail locations, with High Streets down 2.5% year-on-year, and…

Read More »

Consumer confidence hasn’t recovered since Brexit vote, Barclays finds

Consumer confidence reached its highest point in the past 10 years in September 2016, at 48%, just after the Brexit referendum, according to Barclays’ “10 Years of Spend” report. Barclays has been tracking consumer confidence monthly since 2015 and also surveyed 2000 people in the UK for the report, which…

Read More »

UK sales increase 1.1% in March thanks to good weather boost

UK Total retail sales increased by 1.1% year on year in March, against a growth of 3.5% in March 2024, with gardening and DIY sales being boosted by good weather. New data from the BRC and KPMG revealed that the increase was below the 3-month average growth of 1.6% and…

Read More »

UK consumer confidence drops to new low in February

UK consumer confidence slipped to a new low of -37 in February, amid the worsening state of the economy. According to the latest BRC-Opinium Consumer Sentiment Monitor, the economy worsened for the fifth consecutive month, down from -34 in January. The BRC reported that even Gen Z, despite being the…

Read More »

De Beers and Botswana secure rough diamond sales agreement

The Government of the Republic of Botswana (GRB) and De Beers Group have agreed a deal establishing a new sales agreement for Debswana’s rough diamond production. Alongside this, the deal has extended Debswana’s mining licences in the country beyond 2029. This development is in alignment with the heads of terms…

Read More »

Value of diamonds has plummeted in past 2 years, warns 77 Diamonds

Both natural and lab grown diamonds have seen a significant reduction in value, according to online jeweller 77 Diamonds. Over the last two years, the value of a 1ct natural diamond, based on the cost price of round diamonds, has fallen by 34%, whilst a 2ct stone is now worth…

Read More »

BRC warns of ‘spending squeeze’ in January

The British Retail Consortium has warned of a January spending squeeze, as BRC-Opinium data between 10 and 13 December showed that people’s spending intentions dropped 6pts. It comes as public confidence in the state of the economy “took a nosedive”, falling 8pts to -27, creating a widening gap between expectations…

Read More »

UKJSAC advises on government’s Industrial Strategy Consultation

The UK Jewellery, Silverware, and Allied Crafts (UKJSAC) Roundtable has shared its insights with the Department for Business and Trade as part of the government’s consultation on its Industrial Strategy Green Paper, unveiled in September. This submission highlighted the jewellery sector’s vital role in driving both economic growth and social…

Read More »