In the UK, there are up to 2,000 production units (including individual craftsmen)
employing more than 10,000 persons in the manufacture of gold and silver jewellery
and silverware. Over three quarters of these units are small, employing less than
ten people. Main production centres are Birmingham and London.
According to GFMS the
gold jewellery industry used more than 47 tonnes (1.52 million oz) fine
gold in 2001 of which close to half was used for producing 9 carat
items, over a third for 22 carat items (notably for the local Asian communities),
more than 11% for 18 carat items and just 1% for 14 carat items. In all, more
than 17m items of jewellery are produced of which near 90% are in 9 carat
which is the mainstream title used on the UK market.
Jewellery exports are
small but growing, accounting for roughly a fifth of production. The main
destinations are US, Ireland and France.
In 2001 the UK home market
consumed 82 tonnes (2.64 million oz) of gold jewellery, an increase of more
than 9% year-on-year, with official imports from Italy at over 20 tonnes (0.68
million ounces).
All gold articles sold
on the UK market and weighing more than one gram must be hallmarked
at one of the four assay
offices in London, Birmingham, Sheffield or Edinburgh. There are six legal
standards of purity: 375, 585, 750, 916, 990 and 999.
More than half (in tonnage
terms) of UK domestic jewellery consumption is accounted for by imported items,
with main volumes coming from Italy, India
and the United States.
Jewellery is sold through
6,000 retail outlets of which a relatively high proportion, compared to other
European countries, is accounted for by multiples.
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