The diamond business is yet bright and has a good future in the coming days

Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...

Yesterday

The talk around LGDs is all hype

As a teenager, Luca Luterbacher began to design and manufacture single pieces and individual items for wealthy private family friends from Switzerland and Lichtenstein. In 2017, he finally invested in his own luxury trademark "Luterbacher."...

12 august 2019

Correct adjustment of advertising is the major challenge

At the recent Amberforum held in the Baltic city of Svetlogorsk, Andrey Yanchevsky, Head of the trade representation of the LA VIVION jewelery company shared his opinion with the correspondent of Rough&Polished on the state and prospects of the jewellery...

05 august 2019

Small-scale diamond mining is the future in Botswana – Leon Daniels

Pangolin Diamonds, which is currently the most active diamond exploration company in Botswana, has called upon authorities in the southern African country to include diamonds into the minerals permit for small scale mining operations. Pangolin chief...

29 july 2019

“There has been a strict policy in Israel against LGDs; have been forbidden on IDE trading floor for years.”: Aviel Elia, Managing Director- IDI

Aviel Elia, an attorney by profession, has served as Legal Adviser and Company Secretary of IDI since 2013. As a key member of the Israel Diamond Institute (IDI) management team, he has been involved in developing company strategy and negotiating...

22 july 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