Sourcing of rough in India through online tender system helpful amid COVID situation

Dinesh Navadiya, the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India has been appointed the President of The Southern Gujarat Chamber of Commerce & Industry (SGCCI). He is also...

30 november 2020

Cultivating demand for natural diamonds

CIBJO, the international jewellery confederation, hosted a webinar last month on cultivating demand for natural diamonds. CIBJO had been holding a series of webinars on the impact of the COVID-19 pandemic. The webinar examined ways to cultivate demand...

23 november 2020

Deljanin and Simic: We do not think laboratory diamonds are threat to natural diamonds

Gem and jewelry industry experts Branko Deljanin and Dusan Simic have completed the 3rd edition of their best-selling book, Laboratory-Grown Diamonds - Information guide to HPHT and CVD-grown diamonds. Deljanin and Simic are diamond researchers with...

16 november 2020

Kapu Gems: Limited diamond manufacturing increases demand

After completing the commerce degree B. Com, Kalpesh D. Vaghani ventured into the family business. His understanding of the market, diamond intricacies and the global standards technology utilization helped him create a niche for himself. An entrepreneur...

02 november 2020

Chris Del Gatto: “We provide capital to smart companies”

Chris Del Gatto, CEO & Co-Founder of DELGATTO Diamond Finance Fund L.P., a New York-based non-bank lender to the diamond and jewelry industry, started his career as a diamond cutter when he was just 17. In his early 20’s, Chris went on to co-found...

26 october 2020

De Beers sees strong demand for diamond jewellery despite COVID-19 pandemic

30 november 2020

Diamond giant, De Beers has made efforts to understand the consumer perspective, particularly in the United States, following the COVID-19 pandemic. The group is conducting additional consumer, retailer and supply chain touch-bases to understand the pain points and the opportunities for partners large and small across the pipeline. It noted in its latest Diamond Insight Flash Report that although consumer optimism on personal finance and the financial position of the United States is slightly lower than at the beginning of the pandemic, expectations continue to be strong that in the longer term (next three years), the country and the economy will recover. De Beers said fine jewellery retailers are reporting that their diamond sales are strong this holiday season, with bridal being the primary driver for consumer demand.

India’s diamond manufacturing sector surges on…

23 november 2020

It’s almost business as usual here in India’s diamond cutting and polishing hub of Surat. The manufacturing sector is likely to buzz with activity after Diwali as nearly 200,000 migrant workers are expected to return to work. With orders reportedly pouring in from across the world, including the key markets of the United States of America and China, the manufacturers are hell-bent on completing the orders much before Christmas and New Year. This year, the Diwali holiday at Surat diamond units was cut down to fewer days, from a fortnight to a month traditionally, so that the trade can recover its business that has been lost due to the COVID-19-induced lockdown.

When the diamond market rising along with the ‘fear index’

16 november 2020

The diamond market continued its strengthening in October amid the robust jewellery sales in the US and China where a low tourism activity is offset by a strong domestic demand. The rebound in the retail and improved margins in the midstream are driving active rough diamond purchases. Today, practically everything suggests that we are in a full-fledged growth cycle of the diamond market. But it is unlikely that any of the market players can forget that the same undeniable growth cycle in January-February 2020 was relentlessly interrupted by the COVID-19 pandemic. They will not forget that the coronavirus is not the only risk factor - and may be not the main one - because the problems of the changing consumer preferences and the expansion of the lab grown diamonds still exist. The stock market has a very indicative volatility index, VIX. Also referred to as the ‘fear index’, it reflects the traders’ expectations on the volatility of the major US S&P index over the next 30 days. At the moments of uncertainty, which are many in 2020, the investors pay more attention to it than to other indicators. Usually, the dependence is clear - when the VIX declines the stock market rallies, and vice versa. The ‘fear Index’ hit a record high in mid-March this year when the market nose-dived, but then it decreased quickly as the market bounced off the bottom. In September-October, with the US elections approaching and the lack of new economic incentives to justify the stock market's skyrocketing since then, the VIX began to rally again. This time, the volatility index growth was accompanied by the S&P index growth, which is a very rare and alarming signal. In this situation, the investors began to lose faith in the validity of the current bid prices and started fixing the positions. If the diamond market had an analogue of the VIX, this index would probably also be quite high now and prompted the diamantaires to assess the prospects as carefully as possible after the successes achieved in August-October.

Mining companies and local communities: the balance of give and take

09 november 2020

Most mining companies often clash with the local communities whenever they intend to establish a new mine that leads to their relocation. Some fights are due to potential environmental challenges such as the contamination of rivers or the suffering of humans and livestock due to the effects of mercury and cyanide. Some communities are also complaining of air and noise pollution due to mining operations in their areas.

India’s gem and jewellery industry getting back on track

02 november 2020

By July 2020, the COVID-19 pandemic had reached a rather alarming stage in India. And, not surprisingly Surat, the biggest diamond cutting centre of India was badly hit too. So, the city saw a massive exodus of diamond industry workers leaving the city in large numbers. This eventually left most of the diamond units big and small closed, with workers employed in these units leaving the Gujarat city every day, as they were left with no source of income. The Surat Diamond Workers Union President Jaysukh Gajera feared at that time that 70 per cent of the workers who were leaving the city may never come back.

Japan's diamond market: spring, summer, autumn, winter and … spring again?

26 october 2020

Several decades ago, Japan was one of the world's major diamond jewellery consumers, along with the United States. That said, there was virtually no diamond market in the country until the middle of the 20th century. The question arises as to how it gained momentum and powerful development and why it is now in the slow lane? Let's try to figure it out.

Angola liberalizes mining industry

19 october 2020

Angola is experiencing a new moment in its political history, with governance now led by the new President of the republic, João Manuel Gonçalves Lourenço, who replaced José Eduardo dos Santos, who led the country's destinies for 38 years. The new Head of State chose to fight corruption, impunity and nepotism as the banner of his government but at the same time has listed reforms in different sectors of the national life, such as the bet on the diversification of the national economy with a strong bet on agriculture. The basis of an entire economy that aims to be revitalized.

Can the diamond market take revenge?

12 october 2020

The diamond market suffering from an oversupply of rough diamonds and changes in the consumer priorities in retail turned out to be a fertile ground for the seeds of COVID-19 that is devastating to the global economy. The coronavirus almost completely froze the diamond trade and forced major players to make unprecedented concessions to their customers - that said, the sales figures have been 10 times less than usual for a long time. Nevertheless, August, traditionally strong for the diamond market, maintained its status despite the fact that the tourist activity being the main driver of demand during this period was clearly lower than last year. The signs of a new cycle in the market were the resumption of jewellery sales in China, an increase in the workload at the Indian cutting and polishing units, as well as an increased demand for rough diamonds. The signs of recovery are very slight now and the situation is entirely dependent on the possible repeated national lockdowns that can decrease the anticipated holiday sales when the industry could take revenge for five difficult months of this year.

Namibia’s diamond production and exports in 2006-2020: from one crisis to another

05 october 2020

Namibia is among the largest global diamond production countries and exporters. Namibia’s offshore rough diamonds are beyond competition as they are brought to the bottom of the Atlantic Ocean in the safest form, and their extraction using mining vessels is not very expensive and the value of one carat is several times higher than that of the diamonds mined from the kimberlite rocks in Africa.

Will diamonds shine brighter than other luxury items?

28 september 2020

According to Bain & Company (The Global Diamond Report 2019), the global jewellery market in 2019 was estimated at approximately $330 bn. Diamond jewellery sales are estimated at $80 bn, and its luxury segment accounts for about 10% (~$8 bn) of the sum. For comparison, the luxury watch market is at $39 bn over the same period, leather goods at $57 bn, and the apparel market at $64 bn (Luxury Goods Worldwide Market Study, Fall-Winter 2019). The fashion market accounts for about a quarter of the total luxury goods market. According to the experts from the McKinsey agency (A multifaceted future: The jewelry industry in 2020), the jewellery market should develop following the luxury apparel market.

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