From Caviar to Cardboard Cutouts, Businesses Hope for Coronation Boost

Royal enthusiasts hold images of Britain's King Charles III and Camilla, Queen Consort as they camp along the Mall, ahead of their coronation, in London, Sunday, April 30, 2023. (AP)
Royal enthusiasts hold images of Britain's King Charles III and Camilla, Queen Consort as they camp along the Mall, ahead of their coronation, in London, Sunday, April 30, 2023. (AP)
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From Caviar to Cardboard Cutouts, Businesses Hope for Coronation Boost

Royal enthusiasts hold images of Britain's King Charles III and Camilla, Queen Consort as they camp along the Mall, ahead of their coronation, in London, Sunday, April 30, 2023. (AP)
Royal enthusiasts hold images of Britain's King Charles III and Camilla, Queen Consort as they camp along the Mall, ahead of their coronation, in London, Sunday, April 30, 2023. (AP)

Businesses are seeking to entice royal fans with a slew of products marking the coronation of Britain's new monarch. Mugs, plates, tea towels, magnets, cushions and teddy bears are staple memorabilia for royal occasions and an array of these to mark King Charles' coronation on May 6 are already filling shop windows.

But some retailers are hoping more niche products will also catch the eye of consumers.

Toy brand Matchbox is selling made-to-order 1:64 scale models of the gold state coach, a fixture in royal coronations, while the card game Top Trumps has a new "Kings & Queens" version. Others are selling coronation varieties of the games pass the parcel, bingo and charades.

Biscuit maker McVitie’s has a limited-edition tin that pays homage to Charles and his wife Camilla's love of nature as well as the monarch's watercolor painting hobby, while numerous labels and supermarkets are marketing teas or sparkling wines.

Brand Caviar House & Prunier has a limited edition tin adorned with the Union Jack and the words "His Majesty's Caviar", while Premier Foods has celebratory packaging for products including Bisto gravy granules and Ambrosia custard.

Supermarkets have dedicated online pages for products and decorations for coronation parties - and the demand is there.

John Lewis Partnership, the owner of the eponymous department stores and supermarket chain Waitrose, said last week searches for coronation products on its website had risen more than 262% on the previous week.

Catalogue retailer Argos says one particular piece is faring well among shoppers - a cardboard cut-out of Charles.

“Our royal family selection of cardboard cut-outs have always been a favorite of our customers, with King Charles proving himself to be a top seller," an Argos spokesperson said.

"Even ('Frozen' character) Queen Elsa can’t compete in the run up to the celebrations."



Gold Prices Dip on Profit-taking, US Data in Focus

FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
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Gold Prices Dip on Profit-taking, US Data in Focus

FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo

Gold prices fell about 1% on Thursday as investors booked profits following a three-day rally, with markets eyeing US jobs data for clues on the Federal Reserve's rate path amid rising global trade tensions.

Spot gold, which dipped 0.5% to $2,904.51 an ounce as of 1211 GMT, has gained over 10% year-to-date. It hit a record high of $2,956.15 on February 24.

US gold futures also dropped 0.5% to $2,912.10.

"Gold seems to be experiencing profit-taking as investors closely watch tariff developments with prices trading toward $2,900 ahead of the non-farm payrolls report," Lukman Otunuga, senior research analyst at FXTM, said, Reuters reported.

Market focus is pinned on an escalating global trade war after the US imposed 25% tariffs on imports from Mexico and Canada on Tuesday along with fresh duties on Chinese goods.

Asian stocks rose as investors held out hope that trade tensions could ease after US President Donald Trump exempted some automakers from tariffs for a month.

Investors turn to gold as a safe haven asset when geopolitical and economic uncertainties loom.

"Unless there is a fresh direction catalyst, the current bearish price action may drag gold lower. Should prices break below the $2,900, this may signal further downside toward $2,880," Otunuga said.

The spotlight is on Friday's non-farm payrolls report, which is expected to show a gain of 160,000 jobs for February, economists polled by Reuters said.

Meanwhile, platinum prices were flat at $964.68 per ounce.

"We look for platinum to be undersupplied by 500,000 ounces, or 6.4% of demand, in 2025, keeping the metal in a deficit for a third consecutive year," UBS said in a note.

"Our market deficit should further reduce the above-ground inventories below 3 million ounces and help prices to move to USD 1,100/oz this year."

Spot silver dipped 0.7% to $32.39 an ounce and palladium shed 0.5% to $937.74.