Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

Yesterday

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

A need for Balance?

24 july 2012

De Beers reduced its prices of rough diamonds by around 3 percent in its July 2012 sight. But apparently this reduction is not parallel to the market trends, Diamond World reported in its Weekly E-Post. Some Sighthoders deferred purchases, justifying that they are in fact loosing much more on the polished diamonds they manufacture and in turn their business is being hurt. Similar sentiments were also seen in the June 2012 Sight.
In the current scenario where demand is softening, buyers are being cautious about their purchases. Also, buyers today have other opportunities to buy in the market, where prices are substantially lower than De Beers.
Given the leverage that Sightholders were allowed to defer 50 percent their July sight target to any other sight in the current intention to offer ‎‎(ITO) period that ends in March ‎‎2013, it remains to be seen if buyers would be willing to buy or continue to defer their boxes if market situations compel them to. At present, what also clearly stands out is that De Beers is holding onto its pricing, irrespective. Being a forerunner in the industry may have earned De Beers the leverage to do so, as it may seem, but what good will it leave for De Beers? A possible ‘stock pile up’?