Russian jewelry industry’s gold consumption falls 1.3% in Jan–Mar

MOSCOW, May 5 (PRIME) -- Gold consumption of Russia’s jewelry industry fell 1.3% on the year to 7.76 tonnes in January–March, a representative for the Assay Chamber of Russia told PRIME Thursday.

The industry’s silver consumption decreased 20.8% on the year to 31.12 tonnes in the period.

Russia’s gold jewelry production fell to 6.15 million items with a total weight of 12.93 tonnes in January–March from 6.2 million items with the weight of 13.1 million tonnes in the same period a year ago.

Russia’s silver jewelry production contracted to 8.06 million items with the weight of 33.64 tonnes from 10.02 million items with the weight of 42.46 tonnes.

In 2015, Russian jewelers’ gold consumption plunged 39.8% on the year to 34.22 tonnes, while silver consumption rose 2.2% to 151.5 tonnes.

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