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.

17 september 2021

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.

17 september 2021

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.

17 september 2021

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...

17 september 2021

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.

17 september 2021

Will Teenage Debt Cripple China’s Luxury Market?

11 may 2021

(jingdaily.com) - What Happened: In the past decade, household debt has exploded in China. And Generation Z, famous for its love for luxury, is accumulating debt faster than any previous generation. According to the South China Morning Post, Gen Zers reportedly buy 15 percent of all luxury goods sold in China. Moreover, Chinese Gen Zers spend around 13 percent of their total household incomes on luxury, compared to 3 percent in the UK and 4 percent in the US, according to a survey conducted by OC&C. The survey also highlights that China ranked at the bottom among the surveyed countries for “having savings” (72 percent compared to 89 percent in France), proving that the spending habits of Chinese Gen Zers are different from those of their international peers. Meanwhile, a 2019 HSBC survey highlighted that the debt-to-income ratio of Chinese consumers born in the 1990s had reached a whopping 1,850 percent.