LONDON (Commodity Online): The global value of gold jewellery sales is on the rise, according to a new report.

A study by research firm Koncept Analytics indicates that gold is holding its own as one of the most popular metals for jewellery in the world.

It says that the value of gold jewellery sold worldwide increased in 2008, despite sales seeing a decline in terms of volume.

Plain gold jewellery accounted for the second biggest share of the global jewellery and gems market last year, Koncept Analytics added.

"Traditionally, gold has held the leading position in most of the jewellery markets across the world because of its value - as well as [the] tradability factor," the company said in a statement.

Gold items continue to exceed expectations at auctions around the world.

Christie's recently held two auctions where rare gold jewellery surpassed predicted prices in London and Paris, with some items attracting bids that were more than double their original estimate.

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