Indian gem and jewellery manufacturers have the skill and capabilities to cater to any market in the world

Besides spearheading the “White Paper” last year, Colin Shah, Vice Chairman of the Gem & Jewellery Export Promotion Council (GJEPC) has been actively involved in the initiatives of the Council like MyKYCBank and many more… A first generation...

11 february 2019

The Indian gems and jewellery industry was progressing in the past and will certainly progress in the future

Dinesh Navadiya, the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India, is also the representative of the Gujarat G&J sector at various organisations as well as government authorities...

04 february 2019

The Russian Diamond Line: We do not believe that gifted persons would win through on their own

The Russian Diamond Line, a Moscow international jewellery contest of jewellery design, has been held for a decade already. At the end of the year, the results of the jubilee RDL-2018 contest were summed up, and on December 14, the prizewinners of the...

28 january 2019

New lending will have to be fully asset-backed with true provenance and transparency in the flow of goods and monies

After handling Gem & Jewellery (G&J) industry financing as a banker for many years, Erik A Jens sees an opportunity now that numerous banks are withdrawing from the sector. He is exploring opportunities to establishing a financing firm focusing...

21 january 2019

The majority of women don’t care whether their diamonds are mined or lab grown - Alex Popov, CEO of Âme

Alex Popov, President of the Moscow Diamond Bourse and former Chairman of the World Diamond Mark Foundation (WDMF) launched a new jewelry brand under the name of Âme focused on design and using lab grown diamonds to produce jewelry meant to meet...

14 january 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