Gold brings stability, acts as insurance, and generates higher risk-adjusted returns especially in times of heightened uncertainty

Somasundaram PR (Som) joined the World Gold Council in January 2013, as Managing Director, India. Based in Mumbai, Som is responsible for leading the World Gold Council's activities across the Indian gold market. Som has over 27 years of...

12 april 2021

Flun Gumerov - “I think that a diamond is a unique gift from nature. A synthetic diamond is a man-made imitation of the gift of nature”

Flun Gumerov, Chairman of the Council of the “Jewellers Guild of Russia” Association and the founder of Almaz-Holding, told Rough&Polished about what is new in the legislation relating to the jewellery production and trade, about the sentiments at the...

05 april 2021

Lucapa narrows kimberlites search

Lucapa Diamond and its Lulo partners have been for close to a decade searching for the kimberlite source or sources of alluvial diamonds being recovered from within the Lulo diamond concession, in Angola. The company believes that the frequent recovery...

29 march 2021

Shashikant D Shah: “Mined diamonds and LGDs are separate categories”

Armed with a commerce degree, Shashikant D Shah entered the diamond trade by opening a diamond Jewellery Showroom exclusively for Nakshatra and Asmi brands in 2003 and has not looked back since. DM Gems came into being in 2003 with Shashikant as Founder/Owner...

22 march 2021

Andre Messika: “The natural diamond industry today is one of the most transparent, regulated, and ethical industries in the world”

Andre Messika, a Paris-based topnotch distributor of polished diamonds migrated to Israel in 2003, to establish Andre Messika Diamonds in the Israel Diamond Exchange in Ramat Gan …and has not looked back since. In 2012, in recognition of the continuous...

15 march 2021

De Beers warns of challenges ahead as COVID-19 continues to wreak havoc

07 april 2021
De Beers has warned that the COVID-19 pandemic developments in Europe and Mumbai's recent lockdown will likely affect its rough diamond sales.
De Beers raked in $440 million from its third sales cycle of 2021 compared to $550 million recorded during the second sales cycle for the year.
 "Following a good holiday season and that trend continuing during the first quarter of 2021, we have again seen solid demand for rough diamonds as we begin a traditionally quieter period of the year for the diamond industry," said De Beers chief executive Bruce Cleaver.
"Sales were in line with expectations and both market sentiment and overall industry conditions remain positive. However, with pandemic developments in Europe and Mumbai's recent lockdown resulting in the Bharat Diamond Bourse being closed, it is clear that we will continue to see challenges relating to COVID-19."
The diamond giant continued to implement a more flexible approach to rough diamond sales during the third sales cycle, with the sight event extended beyond its normal week-long duration. 

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished