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

De Beers pockets $560 mln from May sight - report

14 may 2014

De Beers is said to have pocketed about $560 million fr om the May sight as the rough diamond market remained stable.
Rapaport cited unnamed sightholders as saying that prices on some boxes were adjusted slightly, although on average prices and assortments were unchanged.
“The market is stable but at high rough price levels, whereby we don’t see profit margins as a manufacturer,” one sightholder said.
“There are certain areas wh ere De Beers prices are high, but we don’t have much of an argument for a reduction in prices. Goods are selling and polished demand is there.”
Dealers who spoke to Rapaport also said that rough trading on the secondary market had decelerated with boxes selling at premiums of around five percent with credit terms.
Rough demand was said to have gone down after De Beers raised prices at the March-April sight.
Sightholders also said that liquidity had tightened in the past month as rough prices increased, while their ability to sell a high volume of polished goods had been hampered by the backlog for certification at the Gemological Institute of America (GIA).  
Goldie & Company chief executive Mike Aggett was quoted as saying that the situation regarding delays at the GIA had added to the financial pressure already being experienced by the manufacturers, bringing the question of margins to the fore.
De Beers head of midstream communications David Johnson said the rough and polished markets had entered a seasonally slower period.
He, however, said that the outlook remained positive for the rest of the year.
Meanwhile, Rapaport estimated that rough prices had leaped by between seven percent and 10 percent since the beginning of the year.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished