22 August 2018

CIBJO, the World Jewellery Confederation, releases the second Special Report. The Special Report is prepared by the CIBJO Precious Metals Commission, headed by Huw Daniel, CEO of Platinum Guild International, and examines the influence on the sector by outside forces, such as political, regulatory or the result of decisions by the International Standards Organisation.

"Unlike diamonds and other gemstones, where prices are almost exclusively a function of supply and demand in the jewellery markets, precious metals are also safe haven assets, and as such are subject to forces that simultaneously are driven by both psychology and economics," writes Mr. Daniel.

The special report specifically looks at the difficulties encountered in predicting the trajectory of precious metals prices because they tend to be influenced by outside political events, and also outlines changes affecting the sector that appear in the recently released Guides for the Jewellery, Precious Metals, and Pewter Industries by the U.S. Federal Trade Commission.

The report recounts a successful effort undertaken by CIBJO, the Platinum Guild International and other industry bodies to reverse a 2014 decision by the International Standards Organisation.

"The process underlined the very valuable role that CIBJO can take as an official observer at ISO, working in concert with leading industry associations," writes Mr. Daniel. "Its position is greatly enhanced because it is seen as being non-partisan, with its primary goal being to defend the interests of consumers."

Full article:

http://www.cibjo.org/congress2018/wp-content/uploads/2018/08/CIBJO-Special-Report-2018-Precious-Metals.pdf