Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Indian exchanges may soon begin diamond trading

10 october 2016
With the Government of India introducing diamonds among the list of 91 commodities that can be traded on Indian exchanges, India will be among a handful of nations that are trying to trade diamonds. SEBI has asked exchanges to take steps to amend relevant rules and regulations for implementing the initiative, says a TOI report.
Worldwide, diamond is a commodity that is least traded at exchanges because of the difficulty in standardizing it and the perceived lack of transparency in its pricing. Some of the biggest commodity exchanges in US, UK and Asia steer far clear of trading diamonds, because apart from jewellery usage, it has very little industrial value.
In a bid to bring in standardisation, the industry aims at looking at sale of only diamonds certified by the Gemological Institute of America (GIA). "We will be looking at auctioning diamonds only from D to G colours, with VVS clarity and with XXX excellent overall cut grade," says Praveenshankar Pandya, chairman, Gem and Jewellery Export Promotion Council (GJEPC). 
"The diamond's entry into the financial market will ensure guaranteed returns to those who invest in them," added Pandya.
Analysts express concern that unlike gold and silver, which have very high resale value, diamonds generally cannot be sold back to retailers by consumers. Even when resold, retailers take them back at a fraction of their original sale price. "Things are changing in the diamond industry and it no longer operates as it once used to. We are trying to address this concern from our regular customers and we take back diamonds sold by us at 90% of its original value. We are also trying to bring in more transparency in the way diamonds are priced with indexing," says Jignesh Mehta, founder and MD, Divine Solitaires. 
"Diamond's entry into the financial markets will help demystify the aura around diamonds and the way they are priced," says Mehta. "I'd welcome this move as it will be an encouragement to the industry."

Aruna Gaitonde, Editor-in-Chief of Asian Bureau, Rough & Polished