To achieve better performance compared to their foreign competitors who have the advantage of low labour costs, Italian jewellers must aim for high-end and top-quality products.
India, with China and Turkey today, lead world's gold jewellery manufacturing sector while Italy is no where in the race.
Manufacturing in niche areas and and creating exquisite pieces of high value, was advised by Valentino Ziche, Chairman of Vicenza Gold Fair, a showcase for latest trends.
Italian gold jewellers' output fell 10 percent to 275 tons in 2005, whereas it increased in case of India, China and Turkey, according to British-based GFMS precious metals consultancy.
Gold jewellery output declined to around 30 percent this year, due to volatile gold prices, according to Italpreziosi, Italy's leading metal bank.
Drop of 30 percent in volume should be balanced through a 30 percent increase in the value of sales, viewed Ziche.
High volatility in gold prices caused a fall of 10 percent last week, but perked up to $730 ($1170) per ounce on May 12.
Prices of silver, meanwhile, have almost doubled since November.
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