GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

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

The Diamond Trade Week in Review

28 september 2009

In the United States, demand remains focused on bread and butter engagement goods, primarily rounds from 1.00-2.00 ct., H+, SI+ as discounts appear to have stabilized from recent months, RAPAPORT  reported in its Weekly Review of diamond market. Wholesalers, manufacturers and dealers are looking to consume more because they believe the stabilization of the market is going to create an uptrend in prices. Retailers have turned somewhat optimistic as the overall economic outlook seems less bleak. There has been an improvement in customer turnout in stores, online and over the phone recently, which has given retailers some hope that the holiday season will provide positive results.
Trade in Belgium was quiet this week due to both the high contingent of Belgian exhibitors at the Hong Kong Jewellery & Gem show and the Jewish holiday season. Still, there is strong demand for rounds, 0.80-0.90 ct., G+, VS+ and 1.00 ct., D-H, SI+ stones. Buyers are requesting deep discounts on 2.00-3.00 ct., G, VS stones, which are not selling well. In fancy shapes, princess cuts continue to be the hot seller, while rough prices are still considered to be high.
The bourse in Israel was quiet this week as a large number of manufacturers and dealers were at the Hong Kong show. Many who are not attending have sent stones to the event. The Jewish holiday season also means that there will be fewer trading days in the bourse over the next few weeks. In general, Israeli manufacturers have focused on stones suitable for the Far East market in D-F or K-M colors and high-quality clarities of VS1+. The U.S. market remains quiet for Israelis, causing them to send a wider range of goods to Hong Kong, such as SI clarities more traditionally suited to the U.S., on the slight chance that they will sell there.
There has been great anticipation in India for this week’s Hong Kong show, which an estimated 5,000 Indian diamond traders are attending. This resulted in low trading levels in the local polished market. There is good demand in India for VS-SI clarities, though less so for VVS stones. There is also improving demand for piquet goods due to shortages in the market. There is some activity in the rough market for fancy shapes, I+, VS1+.
Buyers from China were an important factor at the Hong Kong show, accounting for approximately 22 percent of the total visitor count during the first three days of the event. There are high expectations for the National Golden Week holiday, which begins next week on October 1. While buying in preparation for the holiday week has lessened, buyers are still looking to fill specific orders, especially in loose stones. Demand from Chinese buyers is for 0.30-1.10 ct., D-J, VVS-SI, GIA, preferably EX cut, and also for parcel goods.
Hong Kong was the focus of the diamond industry this week, with the September show adding to the positive mood there. In general, Hong Kong buyers are seeking very specific items of 1.00-3.00 ct., H-J, VVS and collection goods D-F, SI+. Shortages in these items have emerged and there is competition to find these goods. Still, there has been resistance to meeting seller price expectations in those categories.
Between the Lines
Show Time: The much anticipated Hong Kong show kicked off this week with a record number of exhibitors and 25 percent more exhibition space. Given the hype ahead of the show and more importantly, the relative strength of the emerging markets of China, India and Southeast Asia, the event appears to have cemented itself as an important milestone on the jewelry trade calendar. While exhibitors appeared to be satisfied with the steady traffic flow of serious buyers, some felt that the industry had projected too many hopes onto the event. They said the show demonstrated a healthy Asian market, but a weak U.S. market remains in the run-up to the Christmas holiday season. The show demonstrated a narrowing of the gap between buyers and sellers in terms of pricing, but sellers remain frustrated that price increases are not as high and clear as they hoped. Nevertheless, there has been a strong feel good factor throughout the past month’s show season, beginning with IIJS India in August and carrying through to Hong Kong this week. As a result, the market appears to be optimistic and hopeful for a strong Diwali season in India and a relatively decent Christmas in the U.S. and Europe.
Rough: The focus of the industry will turn from the current polished diamond show season back to the rough market next week with the start of the Diamond Trading Company (DTC) sight 8, particularly amidst concerns that the rough market is being driven by speculative, rather than market, forces. Demand for rough is expected to remain stable, especially in the wake of reports from the Hong Kong show of shortages in certain categories of polished. There should be no reason that around $1 billion worth of rough will be sold to the market between the major mining companies this sight month as it was in August. The big question, however, will be on how prices move, as manufacturers are bemoaning their high level at the moment. Can the market afford another increase? Or will there be some downward trend as anticipated?
Retail: It appears that expectations for the Christmas quarter retail season depend upon spin and how one views the market. In one of the first such first notes on U.S. retail sales expectations, the research group Retail Forward forecasted that the trend of declines will end in the fourth quarter and that sales will be on par with 2008. It added, however, that the retail performance — when measured in terms of growth rates — for the three-month period would be the second worst in 42 years, surpassed only by that of 2008.
The group’s economists were notably upbeat about the news, stressing that they anticipate a return to growth in 2010, with this trend expected to gain strength quarter by quarter. While the research did not offer specific forecast categories, the trend of softer declines in jewelry sales, at least, is expected to continue moving forward, partly because the bar is now set lower and, more importantly, because there does appear to be some growing confidence amongst consumers.
As Retail Forward economist Frank Badillo stressed, “The emerging recovery will be driven by growing confidence among households in response to, among other things, subsiding job cuts by businesses.”