Gold Love Trade Could Set New Valentine’s Spending Record

This Valentine’s Day might best be remembered for two things in particular. One, for the first time in 153 years, candy lovers won’t be able to pick up a box of Sweethearts, those classic heart-shaped candies bearing sweet nothings like “BE MINE” and “CRAZY 4 U.” And two, consumers are set to spend more than $20 billion on Valentine’s gifts for the first time ever, thanks in part to a surge in gold jewelry demand—specifically, yellow gold.

Regarding Sweethearts, they’ll be missing from store shelves this year because the candy’s manufacturer, Necco, sadly went bankrupt last May. But never fear! Its new owner, Spangler Candy Company—maker of Dum Dums lollipops—could bring them back as soon as next year.

As for Valentine’s Day spending, what I find interesting is that it continues to grow even as the number of people who admit to celebrating the holiday has been on the decline for years now, according to the National Retail Federation (NRF). It’s estimated that Americans will shell out an all-time high of $20.7 billion this year, easily topping the previous record of $19.7 billion set in 2016.

The increase in spending, I believe, can largely be attributed to the Love Trade, which is all about gold’s timeless role as a treasured gift. Of the $20.7 billion, an estimated 18 percent, or $3.9 billion, will be spent on jewelry alone, much of it featuring gold, silver and other precious metals and minerals.

Just take a look at the results of a recent WalletHub survey. When asked what kind of Valentine’s Day gift was “best,” most women said they preferred jewelry, beating out gift cards, flowers and chocolates. (Interestingly, a third of men said they preferred gift cards, with only 4 percent saying they thought jewelry was the “best” gift.)  

US China trade tariffs expected to divert trade to other countries

Yellow Gold Gets a Royal Endorsement

But what kind of jewelry should you get your spouse or partner? You may have seen stories about how  yellow gold jewelry—as opposed to white and rose gold, not to mention silver and platinum—began to fall out of favor in the 1990s, the attitude being that it was “tacky” or “old fashioned.” Personally, I don’t believe it’s ever fallen out of fashion, but we have been seeing its popularity gain additional ground lately. Look no further than Menē, the revolutionary 24-karat jewelry company that’s disrupting the industry.

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Happy Valentine’s Day, and if you’re interested in learning more about the gold Love Trade, download my free whitepaper by clicking ...

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