The jewelry and watch industry has endured a few rocky years.
Gold prices climbed to almost $1,900 an ounce last August, and although prices have come down, gold closed at its highest rate in more than a month on Nov. 23, at $1,750. (It closed at $1,715 at press time.) Many even speculated that the volatile market would result in prices hitting the $2,000 mark last year.
In September, for the first time since 2010, Swiss watch exports fell 2.7 percent compared with the same period in 2011. Global sales for the month hit 1.7 billion Swiss francs, or $1.84 billion. The Federation of the Swiss Watch Industry said a slowdown in Asia contributed to the decline. Swiss watch exports to China and Hong Kong fell by more than 25 percent and 19 percent, respectively. The fall comes after Swiss watch sales rose 13.6 percent the first three quarters of 2012.
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