US Holiday jewelry sales expected to skyrocket

According to Mastercard SpendingPulse, US jewelers can expect revenue from jewelry sales in the US between November 1 and December 24 will grow 59% compared to the same period last year.

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Australia becomes world’s biggest producer of gold for first time

Australia has become the world’s biggest producer of gold for the first time, having played second fiddle to China for the last decade. Australia unearthed 157 tons of gold in the first half of the year, pipping China by four tonnes.

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Nigerian minister mulls death penalty for gold smuggling – report

Nigeria’s deputy minister in charge of mines and steel development has called for the death penalty for gold smuggling in the West African country.

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Gemfields back to black

Gemfields is expected to register a net profit after tax of $23.8-million in the first half of the year compared with the net loss after tax of $56.7-million, a year earlier. Earnings per share are expected to be 2 US cents from a loss per share of 4...

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Debmarine Namibia's new diamond recovery vessel to arrive in SA next week

Debmarine Namibia’s new N$7 billion diamond recovery vessel, Additional Mining Vessel #3 (AMV3), is expected to arrive in Cape Town, South Africa next week ahead of commissioning early next year.

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Are Chinese Consumers Moving from Spending to Saving?

26 november 2019

(jingdaily.com) - China is facing slowing economic growth, and the continued trade war with the U.S. has created a potentially tricky situation where consumer prices could shoot up while businesses’ profit margins decline. As challenges mount, the government has implemented stimulus measures (tax cuts, loans, etc.) to help increase spending, but Chinese citizens are instead becoming frugal, moving farther and farther away from the extravagant spending of years past. And while the luxury industry has recently become dependent on China’s younger, label-obsessed consumers, the high-end segment remains vulnerable to changes coming from Beijing.