Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Johan Erikson: The industry needs to spend more on advertising and marketing

First Element is a fully independent Diamond Services Company registered in Belgium, Botswana, South Africa and Dubai. First Element is committed to providing a world class diamond service aimed at adding value to the entire supply chain, from the daily...

08 june 2020

African diamond firms on COVID-19 response, recent developments

Rough & Polished recently contacted several diamond producers and exploration companies with operations in Africa to establish how their operations were affected by the Covid-19 pandemic and what they are doing to alleviate the impact. We also sought...

01 june 2020

Gold demand in China to dip 10-15% in Q1 2020

17 february 2020

Demand for gold in China is expected to weaken in the first quarter of 2020 as the country’s consumption-led economy grapples with the coronavirus outbreak, according to World Gold Council’s (WGC) investment research director Juan Carlos Artigas. 

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Image credit: Stevebidmead (Pixabay)

Though the spread of the disease appears to be slowing down, especially outside of Hubei Province, where the virus first struck, China’s consumer demand will certainly dip in Q1 by at least 10 per cent to 15 per cent.
Data from WGC showed that Chinese jewellery demand is seasonal, with the first and fourth quarters being traditionally strong and the second quarter generally weak.
However, China’s gold market has evolved since SARS epidemic in 2003, with consumer demand accounting for 30 per cent globally in 2019 making it the largest gold market, from 8 per cent in 2003.
According to Artigas, ‘If the epidemic spreads further and continues to affect investor sentiment, global flight-to-quality flows, amidst concerns of a global deceleration, may have a more sustained (positive) impact on the gold price’.

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