Hallmarking falls 32% in September and 25% in Q3

londonassayoffice_hallmarking.jpg

Palladium continues to show improvement while gold and silver fall.

Birmingham Assay Office has released its hallmarking figures for September, with the number of items being hallmarked falling 32% compared to September 2010.

A total of 943,461 items of jewellery were hallmarked in September 2011, compared to 1,388,469 in the same month last year. Of those items Assayed, 409,268 items were gold, 504,624 were silver and 7,836 were palladium. The number of platinum items hallmarked dropped to 21,733 – 3,767 items fewer than September 2010.

Silver of 800 parts showed a fall of 99.1%, with only two items hallmarked, while the number of palladium 500 items hallmarked increased by 492 pieces in September this year compared to September 2010.

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The year-on-year fall was described as “unsurprising” by the Assay Office, which said that due to the highest precious metal prices ever recorded the number of articles of jewellery being sold is still falling.

Overall hallmarking figures were down 24.8% for the third quarter of 2011. The Assay office stated that silver has been hit hard because of the steep rise in price since the beginning of this year, however palladium is a “bright spot” that is showing continued growth in figures, though the Assay office warns this “might be at the expense of some platinum sales”.

The facts and figures: UK hallmarking in September 2011 vs September 2010
Gold
22ct gold 916 – down 9.0%
18ct gold 750 – down 16.0%
14ct gold 585 – down 76.3%
9ct gold 375 – down 17.1%

Silver
Britannia silver 958 – down 88.7%
Sterling silver 925 – down 40.4%
800 parts silver – down 99.1%

Platinum
999 parts platinum – up 100%
950 parts platinum – down 14.9%
900 parts platinum – up 366.7%
850 parts platinum – down 100%

Palladium
999 parts palladium – down 100%
950 parts palladium – down 24.4%
500 parts palladium – up 4,920%
 

 

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