GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

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

Diamond Prices Decline in October

07 november 2016
Diamond markets were quiet in October with wholesale businesses closing for the respective Chinese, Jewish and Indian holidays, Rapaport reported. Trading slowed as larger U.S. holiday orders were already filled and dealers shifted to accommodate specific requirements from their retail customers.
The RapNet Diamond Index (RAPI) for one-carat, RapSpec-A3+ polished diamonds fell 2.3% in October. The index dropped 4.3% in the first ten months of the year.
Market sentiment improved after the September Hong Kong show but polished trading remained sluggish and inventory levels relatively high. Rough demand softened as rough prices firmed in October and Indian diamond manufacturers scaled down operations before closing for Diwali.
While rough demand slowed in October, mining companies continue to register strong growth compared with 2015 when demand slumped due to low manufacturing profitability and high polished inventory. De Beers sales volume rose 90% in the third quarter, while ALROSA’s increased 69%.
Manufacturing profits remain tight due to sluggish polished demand, while rough trading was relatively strong in the third quarter. India’s rough imports soared 54% to $4.2B in the third quarter, a record for the period, while its polished exports grew 15% to $6.1B.
The industry’s focus shifted to retail as Diwali, Christmas and the Chinese New Year provide important jewelry selling opportunities in the major consumer markets. Rapaport expects moderate U.S. jewelry sales growth this Christmas, relative stability in China but weakness in Hong Kong, while reports signal steady gold sales in India during Diwali.
However, holiday jewelry sales are unlikely to stimulate a sustainable rise in diamond trading and polished prices are expected to remain under pressure for the rest of 2016 and into 2017. That should cause rough prices to soften in the long term. With sufficient stock in the midstream, the diamond trade continues to re-align its inventory with lower levels of demand while there is still an overhang of supply from previous years.