The amount of silver jewellery bought in the UK has sharply declined over the past 10 years; in 2004 around 10.8 million silver articles were hallmarked by the UK’s assay offices, whilst by 2016 the figure had dropped to just 4.7 million pieces.
This year, it seems changing jewellery trends and the falling price of silver has secured a bright, shiny future for the metal, which is being used more widely in contemporary jewellery. The rising price of gold has meant the metal is out of reach for many customers in these difficult financial times, and countries such as China are beginning to embrace silver for use in jewellery making.
Over the last few years, jewellery trends have seen an increase in sales of smaller, ‘mini’ pieces such as skinny friendship bracelets and stackable rings. This helps to keep prices down and attracts consumers who are looking for more affordable pieces of jewellery. Increasingly, customers are purchasing pieces for under £100 and layering or stacking them together to create their own individual style. This trend has filtered across all jewellery categories with brands such as Links of London and Thomas Sabo designing stacking rings and charm bracelets.
Whilst nobody can say what will happen to the price of silver over the next few months or years, experts are confident that silver will continue to rise in popularity and that prices will also rise over the next decade, making silver jewellery a great investment!