"It's not as if consumers aren't spending money, but they're not spending it on jewelry in the way they used to," said Philip Klapwijk, director of Hong Kong-based Precious Metals Insights. "Consumers' discretionary purchasing power is being spent on other things -- white goods, and certainly tourism. More Chinese tourists are going abroad, and that also means during important public holidays, fewer people are visiting department stores."
Precious Metals Insights Limited PMI gold, silver, platinum and palladium markets consultants, advisers and analysts Hong Kong. Supply & demand analysis, production, consumption and recycling consultancy. Managing director: Philip Klapwijk.