International News
US Watch and jewelry sales remain steady in March, overall increase of 0.4 percent
US Watch and jewelry sales remained steady in March, with a slight overall increase of 0.4 per cent, according to the latest US Department of Commerce figures. Jewelry sales rose slightly, while
Watch and jewelry sales in the US remained steady in March, with a slight overall increase of 0.4 per cent, according to the latest US Department of Commerce figures. Jewelry sales rose slightly, while watch sales dipped, as consumers opted for higher-priced items, but bought fewer of them.
In February overall sales increased by just 0.2 per cent and in January they fell by 1.0 per cent
The US government’s BEA (Bureau of Economic Analysis) reported a 0.7 per cent increase in consumer spending in March, the biggest increase for two years, but said it was largely driven by a rush to buy cars before US reciprocal tariffs forced prices up.
Watch and jewelry sales have been characterized by very modest increases in recent months, following on from a year of sustained growth – 10 per cent or more in some months – as shown below.
Reciprocal US tariffs – announced in April, then paused until July – will almost certainly hit sales, as producers forced to either absorb the costs or pass them on to consumers.
International News
CIBJO Alert: Fraudsters Offering Gold-Related Business Deals Under The CIBJO Name
Fraudsters Have Set Up A Domain, cibjo-as.org, and A Person Identifying Himself As Bruce Ikemezu Claims Association With the Site
The World Jewellery Confederation (CIBJO) has alerted the trade to a fresh wave of fraud after impersonators registered a website and began offering gold-related business deals under the organization’s name.
CIBJO said became aware of claims strikingly similar to an earlier scam exposed in January. This time fraudsters have set up a domain, cibjo-as.org, and a person identifying himself as Bruce Ikemezu claims association with the site, the confederation reported.
Unlike CIBJO — a nonprofit representative association that does not trade in physical commodities or financial instruments — the impostors appear to be promoting commercial activity. CIBJO does not trade in any commercial products, the secondhand gold market, nor financial instruments such as gold futures, the organization said in a statement.
CIBJO has no connection to ‘cibjo-as.org’ or Bruce Ikemezu. Any persons making claims in CIBJO’s name are not authorized to do so, and quite possibly could be committing a criminal act.
The confederation said it has filed formal complaints with law-enforcement authorities in multiple countries and urged industry members to exercise caution. Businesses approached with unusual offers should carry out rigorous due diligence before making payments or sharing sensitive information, CIBJO advised. Members who are contacted by individuals claiming to represent CIBJO were told to verify credentials with the CIBJO secretariat.
This alert follows a similar incident in January when an Indian-Japanese group falsely claimed a gold-trading affiliation with CIBJO, highlighting an ongoing pattern of bad actors exploiting the confederation’s name to lend credibility to fraudulent schemes.
Industry parties and buyers are warned to treat unsolicited offers that invoke CIBJO with skepticism and to report suspicious activity to both CIBJO and local authorities.
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