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Wednesday, 10th August 2005 (6007 views)

Luxury goods sales, which include gold items, are tipped to rise in the USA.<br/><br/>According to Michael Silverstein, co-author of 'Trading Up: Why Consumers Want New Luxury Goods', Americans will be spending $1 trillion on luxury goods by 2010.<br/><br/>In an American phenomenon, some young consumers, dubbed 'gold-collar workers', have been spending disproportionately on luxury goods.<br/><br/>These 'gold-collar' consumers are characterised as still living at home, being on service industry salaries and as very keen on luxury goods.<br/><br/>This new trend could augment the enthusiasm for gold jewellery as seen in the burgeoning Chinese market. <br/><br/>Currently, the USA is the world's second largest consumer of gold jewellery, only behind India, and imports most of its gold.<br/><br/><br/><img alt="track" src='http://feeds.directnews.org.uk/feedtrack/dn.gif?feedid=196&itemid=15020715'/>© Adfero Ltd

 

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