De Beers only selling Elizabeth Bay Mine in Namibia, move to sustain operations beyond 2019

Namdeb Holdings, a 50/50 joint venture between the Namibian government and De Beers is not selling Daberas, Sendelingsdrift and Southern Coastal mines in the southern African country. It had been alleged that Namdeb was planning to close and offload...

Yesterday

Colorless diamonds as an investment class are evolving beyond their traditional ability to preserve, relocate and pass on wealth

Antonio Cecere, the Founder & VP of Monaco Diamond Exchange dons many caps simultaneously. Currently, he is the President of Geneva Diamond Exchange, the President of Diamond Investment Club and the Principal of the Cecere Group. Antonio’s ability to...

15 april 2019

Jewellery with diamonds, even with small ones, sells better than without diamonds

The Yakut jewellery firm Kierge was set up 25 years ago on the basis of the jewellery workshop PKF Yakutrembyttekhnika which, in its turn, was founded way back in the 1970s. Over this period, Kierge turned into a well-established company successfully...

08 april 2019

Lucapa’s Wetherall on the past, present and the future

Lucapa Diamond chief executive Stephen Wetherall recently attended a mining conference, in Cape Town South Africa, where he met Rough & Polished’s Mathew Nyaungwa and granted him an exclusive interview. They discussed Angola’s first international diamond...

01 april 2019

India’s gem and jewellery industry expects the government will consider its demand for lower import duty on raw materials

A go-getter at heart, with an attitude to match, Pramod Kumar Agrawal, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) of India is a man in a hurry. He has not left any stone unturned to bring back the Indian gem & jewellery...

25 march 2019

WGC: Global gold jewellery demand up by 6% in Q3

09 november 2018
Global demand for gold jewellery during the quarter ended September 30, 2018, rose by 6% year-on-year driven largely by stronger demand from price-sensitive consumers, and growth in key markets India and China, says World Gold Council in its quarterly publication, Gold Demand Trends.
The report said that gold jewellery demand rose from 505.8 tonnes during the same quarter last year to 535.7 tonnes during the current year.
Demand in India bounced back after two consecutive quarters of y-o-y declines, rising by 10% to 148.8t. A significant dip in gold prices in August also boosted demand in India, though currency fluctuations sent prices soaring again soon after.
China too reported jewellery demand of 174.2t in Q3, a 10% increase over Q3’17. Demand benefitted from the Qixi and Mid-Autumn festivals.
Middle Eastern jewellery demand remained under pressure in the face of geopolitical stress, down 12% y-o-y to 37.7t.
Iranian jewellery demand saw the largest fall in the region for the second consecutive quarter, down almost 60% y-o-y in Q3, while Turkey saw demand slump 31% due to a rising and volatile gold price.
Egypt marked the third consecutive quarter of growth with a 17% y-o-y rise in jewellery demand.

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