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

“Only do business with clients who have impeccable integrity,” suggests Davy Blommaert, banker

Davy Blommaert heads the Diamond Business at National Bank of Fujairah, which falls under the bank’s corporate and institutional banking division. With nearly 10 years of experience in the diamond industry, he was tasked to establish a unit within NBF...

18 march 2019

WGC: Global gold demand up 4% in 2018; jewellery demand stable

07 february 2019

world_gold_council_logo.pngThe Gold Demand Trends for Full Year and Q4 2018 released by the World Gold Council recently said that the global gold demand in 2018 was up 4%, boosted by the highest central bank buying in 50 years. However, jewellery demand which accounts for just over 50% of total demand, was virtually stable.
According to the report, global demand at 4,345.1 tonnes was not only higher than the 4,159.9 tonnes recorded last year, but also in line with the five-year average of 4,347.5 tonnes.
The central bank purchases soared to 651.5 tonnes during the year, the second highest yearly purchase on record, up 276.7 tonnes as compared to a year ago. On the other hand, jewellery demand was recorded at 2,200 tonnes, just 1 t below last year’s level, the report said. Meanwhile, jewellery demand was down in Q4 recording a decline of 3% to 636.2 tonnes due to slowing economic growth and trade frictions denting consumer sentiment.
However, China was still the major driver of growth during 2018 with demand up 3% to a three-year high of 672.5 tonnes.
The Indian gold jewellery demand in 2018 declined slightly to 598 tonnes from 601.9 tonnes in 2017. The Q4 demand was also marginally lower y-o-y to 180.1 tonnes from 182.4 tonnes, due to cautious buying by consumers due to volatile local gold prices.
The US recorded its second year of growth with jewellery demand rising to 128.4 tonnes up 4% y-o-y and the highest level since 2009. However, demand slowed in Q4 with 48.1 tonnes, registering the highest since Q4 2009.
Jewellery demand in the Middle East remained weak as economic hardship, relatively weak currencies and the after effects of tax-changes affected Middle Eastern, Iran and Turkey markets.

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