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

Certified 1ct. Polished Diamond Prices -2.4% in July

07 august 2014

Certified polished diamond prices fell during July. Diamond manufacturing margins remained under pressure as polished trading was seasonably quiet and prices softened, while rough prices stayed high, according to press release by Rapaport.
The RapNet Diamond Index (RAPI) for 1-carat certified polished diamonds fell 2.4 percent during July. RAPI for 0.30-carat diamonds declined 1.3 percent, while RAPI for 0.50-carat diamonds rose 0.3 percent. RAPI for 3-carat diamonds fell 0.5 percent during the month.
According to the Rapaport Monthly Report – “Sluggish Trading,” there is steady U.S. and Far East demand for below 1-carat, G-M, SI-I2, commercial-quality diamonds. Demand for 0.30- to 0.50-carat, G-M, VS2-I2 diamonds remains strong with reported shortages in the market. Many New York and Antwerp-based dealers took their summer vacations during the month, which further reduced trading volumes. Some Indian cutters reduced 1-carat and larger prices due to weak demand, oversupply and to boost cash flows.
The India International Jewellery Show (IIJS) was weak for diamond suppliers but signaled stable Indian domestic jewelry demand and improving sentiment ahead of the October Diwali season that begins on October 23. Still, liquidity is tight among manufacturers as the majority of buyers are looking to fill existing orders rather than build inventory. There is also a lot of inventory stuck in the pipeline as mining companies maintained steady production in the second quarter, and there is a large backlog of diamonds that are being graded at the Gemological Institute of America (GIA), particularly for goods below 1-carat.
While polished markets remain sluggish, rough trading was robust in July. Rough prices from mining companies rose approximately 2 percent and goods were selling for mid-single-digit premiums on the secondary market. Manufacturers are buying rough in order to have their polished inventories ready before the Diwali break.
Polished suppliers are hoping polished prices will rise sufficiently enough during the holiday season to justify current high rough price levels. However, buyers are expected to remain cautious at least until the Hong Kong Jewellery and Gem Fair, scheduled to take place from September 15 - 21, which they hope will boost trading ahead of the fourth quarter holiday shopping season.