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To: craig crawford who wrote (125482)	5/24/2001 11:31:12 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

Craig, There are a few sides to the equation. Not only demand but supply. I read your article and I would like to add a few points. When the economy was really strong, most retail jewelry sales were of platinum and higher end diamonds. Much of the higher end diamond demand has weakened due to the loss of wealth in the market. However, although jewelry sales are a touch soft5, the strongest area is gold. Two reasons. It is less costly than highend diamonds and of course platinum. We could barely sell gold chains in 1999-2000. Now the demand for that all gold jewelry is back. I believe this year will end up with world wide gold demand for jewelry being up quite a bit although I do not expect total dollars spent on jewelry to be up. There were actually a few decent size manaufacturing firms for gold chain in Italy that failed in 1999-2000 due to the lack of demand for that product. Now the remaining are running overtime manufacturing.