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

DTC July Sight Estimate at $420M

20 july 2012

The Diamond Trading Company's (DTC) July sight had an estimated value of $420 million before ‎deferments or ex-plan, as De Beers reduced prices slightly, Rapaport reports. DTC sightholders were expected to ‎reject goods after press time, which would reduce the value of the sight. ‎
While DTC reduced prices by approximately 3 percent, affecting most categories of goods, ‎sightholders continued to complain that the goods offer no profitability. “Three percent ‎doesn’t really matter when you’re losing up to 20 percent on your boxes,” said one ‎sightholder. ‎
Another sight participant noted that there is very little trading of DTC boxes as sightholders ‎are not prepared to lose money given that they are selling at double digit discounts on the ‎secondary market.‎
Sightholders have started to reject DTC allocations due as De Beers kept its prices steady while ‎the market weakened. DTC subsequently notified sightholders in June that they could defer ‎up to 50 percent of their July sight target to any other sight in the current intention to offer ‎‎(ITO) period that ends in March ‎‎2013.‎
In addition, DTC has offered sightholders the opportunity to take additional goods, or ex-plan, ‎at the sight. “Some will take the extra goods because it helps build their position for later in the ‎contract period,” said one rough market observer.‎
Rough prices have softened on the secondary market and at tenders of other mining ‎companies in the past two months, raising concerns among sightholders that DTC prices are ‎well above market prices. Harry Winston, which owns 40 percent of the Diavik mine in Canada, ‎reported this week that prices have dropped by an estimated 8 percent since April.  ‎
De Beers is scheduled to report its financial results for the first half of 2012 on Friday. Rapaport ‎estimates that DTC sales fell 19 percent to approximately $2.83 billion during the period.