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

Diamonds Pricier for Indians Dealing in Dollars

18 may 2012

Polished diamonds are becoming increasing expensive in India, one of the centers of the global diamond trade, due to the weakness of the local currency, the rupee, reports. The rupee has been decreasing in value in relation to the American dollar, the currency in which all diamond transactions in the country are carried out in, the Times of India reports.
India's rupee is now trading at only 54.51 on the dollar, as of yesterday, whereas it was trading at the 50-rupee mark only a few months ago. As a result, a polished diamond that would have cost 60,000 rupees a few months ago would now retail for more than 65,000 rupees.
The difference in cost will not be felt by diamond dealers and exporters, but is being passed on to the consumer, says Gems and Jewelry Export Promotion Council vice-chairman Sanjay Kothari. The size of the Indian market for polished diamonds is about $4.5 billion in annual sales and it is expected to hit $6 billion by 2015.