Jewelry Industry to Feel the Pinch as Gold is Forecasted to Rise Again

London-based GFMS, said Wednesday in its semi-annual Gold Survey report that it expects the precious metal to hit $1,600 a troy ounce due to investors’ concerns over inflation and monetary policy. This cannot be good news for the jewelry industry.

“The prospects for gold prices this year remain bright,” said Philip Klapwijk, GFMS chairman. “Investors continue to be concerned about the outlook