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...

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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

China's Gold Consumption Surges

18 february 2014

China's gold consumption surpassed the 1,000-tonne mark last year as domestic demand for jewelry and bars surged despite the lackluster global market, Rapaport reported citing Xinhua.
Consumption soared 41.4 percent year on year to 1,176.4 tonnes in 2013, nearly triple the amount of its total domestic gold production, data released by China Gold Association (CGA) showed last week.
The trend is likely to mean that China will overtake India as the world's largest gold consumer, under the backdrop of shrinking gold prices and concerns that the U.S. Federal Reserve might withdraw its quantitative easing stimulus, which dampened market sentiment last year.
The marked increase was mainly attributed to the country's surging demand for gold jewelry and bars, which increased 42.5 percent and 56.6 percent respectively year on year to 716.5 tonnes and 375.73 tonnes.
In the second quarter of 2013, the international gold price dropped to around $1,400 per ounce from the $1,600 level, prompting Chinese consumers to go on a shopping spree.
The frenzied purchases nearly exhausted the gold inventory of China's jewelers and coined the word "dama" referring to Chinese middle-aged bargain-hunting women who are the main purchasers.  Chinese "dama" contributed greatly to the increase in 2013, which was much higher than the around 10 percent growth in 2012.
However, China's interest in gold was contrary to the international market, as the price of gold plunged to below $1,200 per ounce by the end of 2013, dubbed as the cost line of gold production.
The increase of gold consumption may slow this year because of weak market outlook, Beijing Times quoted Xiao Lei, a gold market analyst.
Nevertheless, analysts believe sales of gold bars and jewelry would keep rising in the next three to five years boosted by the increasing income of Chinese citizens, according to the report.