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

Crisis or Cry Wolf: A Reality Check

17 november 2014
(Rapaport) - The yo-yo is a simple toy that was invented by the ancient Greeks in 500BC. The yo-yo is thrown downwards, hits the end of the string, winds up the string toward the hand, then it is grabbed, ready to be thrown again. The word “yo-yo” has as many as 12 times more synonyms than antonyms. Perhaps the best synonyms are “blowing hot and cold” and “sudden change in behavior.” We diamond traders have frequently been through yo-yo-type situations. Perhaps that explains why our exuberance turns into disinterest very quickly. The market currently seems to be at a low point. Going forward, I am betting that the situation and the industry mood will only get better from here.