Gold rally pushes Italian jewelers to make leaner designsSmall jewelers are facing the most acute challenges, while wedding rings highlight price sensitivityBy Alessandro Parodi / ReutersIn Italy’s storied gold-making hubs, jewelers are reworking their designs to trim gold content as they race to blunt the effect of record prices and appeal to shoppers watching their budgets. Gold prices hit a record high on Thursday, surging near US$5,600 an ounce, more than double a year ago as geopolitical concerns and jitters over trade pushed investors toward the safe-haven asset. People look at gold jewelry at a store at the Grand Bazaar in Istanbul, Turkey, on Monday. However, demand for gold jewelry is expected to endure as consumers continue to look at the metal as a store of value. “In the end, they pay for gold because they want it to be gold,” the producer said.
