Pandora’s endorsement of lab-grown stones will not devalue natural diamonds – Zimnisky

Jewellery retailer Pandora recently announced that it will no longer purchase natural diamonds as it had switched to lab-grown diamonds. However, diamond market analyst Paul Zimnisky told Rough&Polished’s Mathew Nyaungwa in an exclusive interview that...

07 june 2021

“The volume of Forevermark diamonds that we drive through Indian partners is much higher than in other parts of the world,” says Sachin Jain

Sachin Jain has been a part of the Indian arm of De Beers that dates back to 2010 when he came on board as Head of Retail. In year 2014 he took over as President of Forevermark and today he is the Managing Director of De Beers, India. His single-minded...

31 may 2021

GSI's new Jaipur office to specialize in colored gemstones

Gemological Science International (GSI) has opened a new laboratory in Jaipur, India. Since this state is the capital of colored gemstones, the laboratory will have a dedicated division specializing in colored gemstone geographical origin and...

24 may 2021

“We welcome the mandatory hallmarking in the interest of consumers, but it is also essential to have proper and evenly spread infrastructure across India,” asserts Ashish Pethe, Chairman, GJC

Ashish Pethe, Chairman of All India Gem and Jewellery Domestic Council (GJC), formerly known as All India Gems & Jewellery Trade Federation (GJF) is based in Mumbai. As the third-generation heir of M/s Waman Hari Pethe Jewellers established...

17 may 2021

ALMAR is a case in point that will serve to develop the process of funding junior companies and geological exploration in general

Arkticheskaya Gornaya Kompaniya (AGK, Arctic Mining Company) develops the diamond deposits in the Lena-Anabar diamondiferous sub-province of Yakutia under the ALMAR (Diamonds of the Arctic) brand. This company attracts investments for...

10 may 2021

WGC: Global gold demand down 23% in Q1 y-o-y

03 may 2021
According to World Gold Council (WGC), Q1 gold demand was 815.7t, virtually on a par with Q4 2020, but down 23% compared with Q1 2020, as per a press release from WGC. 
While the average gold price in Q1 was 13% higher y-o-y, it declined by 4% q-o-q. The opportunity to buy at lower prices, relative to the highs seen last year, boosted consumer demand, particularly as many markets continued to emerge from lockdown and economic recovery lifted sentiment.
Jewellery demand of 477.4t was 52% higher y-o-y. The value of jewellery spending $27.5 bn was the highest for a first quarter since Q1 2013. Bar and coin investment of 339.5t, up 36% y-o-y was buoyed by bargain-hunting.
Growth in consumer demand was offset by strong outflows from gold-backed ETFs, which lost 177.9 in Q1 due to higher interest rates and a downward price trend.
Q1 saw continued healthy levels of net buying by central banks: global official gold reserves grew by 95.5t, 23% lower y-o-y, but 20% higher q-o-q. Gold used in technology grew 11% y-o-y in Q1 as consumer confidence continued to recover. The demand of 81.2t was just above the five-year quarterly average of 80.9t.

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