【Córdoba, Spa】Córdoba Jewelers Consider Manufacturing Pieces with 9-Karat Gold

Córdoba jewelers, whose production accounts for 60% of the national total, are considering manufacturing jewelry “with 9-karat gold” to reduce costs and increase output. Production has fallen “between 25 and 30%” amid a complex international scenario that has driven gold prices to historic highs, hindered access to one of their traditional international markets—the Middle East—and simultaneously dampened domestic jewelry consumption.
This was highlighted by Isidoro García-Escribano, president of the Provincial Association of Jewelers, Silversmiths and Watchmakers of Córdoba San Eloy. He explained that the current price of gold remains “stable at high levels,” with a kilogram of the precious metal now costing €130,000, after reaching €146,000 at the start of the US-Israel war against Iran. This conflict has affected international sales, as Córdoba jewelers have a strong client base in countries such as Saudi Arabia, Dubai, Qatar, and other Persian Gulf nations, which are now buying less than before the conflict.

García-Escribano emphasized that in “all Persian Gulf countries,” Córdoba jewelers have “many clients because our jewelry is very popular there.” As a result of the war in the region, jewelry manufacturers in Córdoba are being “quite affected.” At the same time, they are suffering in the Spanish market from the closure of the Strait of Hormuz due to the war, as the consequent rise in oil prices and the general increase in the cost of living in Spain have led to “a decline in jewelry consumption nationwide.”
According to García-Escribano, Córdoba jewelry targets the “average Spaniard,” whose spending on basic products and services has increased due to the war. One consequence is that they reduce their spending on jewelry, which is “affecting sales” of Córdoba’s jewelry.

As a result, there has been “a drop in production of between 25 and 30%” among Córdoba jewelry manufacturers. This is “a lot” and “could affect the medium term,” because if the situation continues and “30% fewer pieces are invoiced, obviously part of the workforce will be surplus.” However, “for now,” Córdoba jewelers “are holding on to staff” while they “wait to see what happens.”
In this context, they have “high hopes for a campaign to promote the use of 9-karat gold, because it works quite well in other countries,” such as “neighboring France.” Meanwhile, “there are already some very leading brands here that are starting to use” 9-karat gold for their jewelry.
The issue, according to the president of Córdoba jewelers, is that “if this works, we will return to manufacturing the thousands of pieces we used to make.” Although currently in Córdoba the “main production is in 18-karat gold,” accounting for over 80% of the total, the fact is that “we are no longer bound by law” to manufacture and sell jewelry only with 18-karat gold. Instead, “jewelry with 9, 14, and 18 karats can be sold, as long as the actual content of the piece is disclosed.”

In any case, whether Córdoba jewelers predominantly adopt 9-karat gold or not, García-Escribano assured that “Córdoba jewelry maintains its quality because, ultimately, the precious stones set in gold are exactly the same,” although the production cost “of the piece would be somewhat cheaper. What we are trying to do is manufacture thousands of pieces to create thousands of jobs,” as it should not be forgotten that “approximately 15,000 jobs depend on Córdoba’s jewelry industry, which is no small matter.”