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Americans' Appetite For Bling On Fire As Gold Prices Sink

wochit business
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December 23, 2013 AT 10:58 AM
Tumbling gold prices, growing consumer confidence and aggressive discounting by retailers have Americans flocking to jewelers' counters this holiday shopping season. The U.S. gold jewelry industry is on track for its highest sales for the fourth quarter since 2010 and its first annual increase in gold sales in more than a decade, precious metal consultant Thomson Reuters GFMS has estimated. Gold prices have plunged almost a third this year, halting a 12-year run of gains.