Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

China’s recent high gold imports indicates high demand in Q2

10 may 2021
Traditionally Q2 is a seasonally quiet time for gold demand in China. Available data for April shows that the average monthly trading volumes on the Shanghai Gold Exchange -- usually seen as a high-frequency indicator for China’s physical gold demand --declined over the month.
But with the elongated International Labour Day holiday starting on 1 May, and the pandemic currently being well contained, gold demand could receive a boost during this offseason. The World Gold Council (WGC) also expected that wedding jewellery demand might offer substantial support as many couples plan to hold their delayed weddings during the upcoming holiday. This reflected in an $11/oz average local gold price premium during April, $3.6/oz higher than March.
During April there were indications that the People’s Bank of China has permitted imports of ~150t of gold.
Recent data from China Customs showed imports of 38t in March, 32t higher m-o-m and 20t higher y-o-y. The pandemic-stricken March of 2020 and fewer working days in February 2021 were the main reasons for the sizable increases.
Chinese gold consumption has surged so far in 2021, while imports have been somewhat muted since early 2020, resulting in tightening supply-demand conditions and a domestic gold price spread. Potentially higher imports in Q2 shows that Chinese gold demand could remain higher says WGC.

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