Quarterly Hallmarking Figures / January to March 2009

SILVER IS STILL STRONG IN DECLINING MARKET

The steady increase in precious metal prices combined with a weak pound and consumer uncertainty continues to hit the trade hard.

Hallmarking numbers for the first quarter of 2009 have continued to decline, down 24% on 2008 to 3.1 million, a drop of nearly 1 million articles. Total gold articles were down 41.1% overall; the hardest hit category being 9ct gold down 838,916 units a drop of 44.3% against the same period in 2008.

Demand for white metals, particularly silver and platinum is holding up well compared to gold with the total number of silver articles hallmarked in the quarter at 1,740,809 down just 1.4% on the same quarter in 2008. Platinum units hallmarked totalled 62,753, a reduction of 8.3% against the same period last year.

The individual figures are as follows: