Diamonds: A cocktail of optimism, pessimism in the midst of Covid-19 pandemic

Rough & Polished’s Mathew Nyaungwa recently attended a webinar organised by CIBJO Communications to examine consumer demand at the time of the Covid-19 pandemic, importance of data, financial models and lab grown diamonds. The webinar, chaired by Edward...

Yesterday

How Russkiye Samotsvety is coping with the current downturn

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June...

03 august 2020

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions...

27 july 2020

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI)...

20 july 2020

GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

India’s gold import to dip two-decade low in calendar year 2020

23 july 2020
India’s gold import in the calendar year 2020 is expected to fall 50 per cent to nearly a 17-year low because of lackluster demand, record-high prices and the Covid-19 outbreak in March. Analysts estimate that India’s gold imports this year will be to the tune of only 350 tonnes.
Indians interested in investing in gold have shifted to instruments such as sovereign gold bonds and gold ETFs. While some are selling gold or using it as collateral to generate short-term liquidity, gold is still the best-performing asset in CY20 till date.
In the March quarter of CY20, the gold import was 78.4 tonne; in the June quarter, it was merely 11 tonne. The import scene in July too is not encouraging and demand is expected to fall to a third this year.
Meanwhile in CY19, according to the World Gold Council data, India had imported 647 tonne of gold.

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