Diamond market overview Reports that the luxury goods sector is being affected by slower growth in China, combined by the uncertainties in the euro zone, is weighing on sentiment in the polished market. “With the growth momentum in China slowing, what has been pushing the luxury-goods sector high...
Press Release: Millennial-age consumers—the generation comprising the primary bridal jewelry market—are both far more conscious of social responsibility than previous generations, and far more demanding that the companies they do business with behave responsibly and give back. For jewelers, this means not only being able to reassure customers that your diamonds are conflict-free, but also knowing the good that diamonds do and being able to communicate that message to your customers. Read More
The decision by the Indian government to force its citizens to convert half their foreign currency to rupee was another of a growing list of directives negatively impacting the diamond industry. The result is that 2012 is set to become an even more challenging year than expected for the trade. Read More
The World Diamond Council this week voted in favor of discussing a change to the definition of conflict diamonds as described in the Kimberley Process Core Document. While not binding, it is a much-needed evolution. But will it actually result in any change? Read More
Wisecrackers say that "statistics is an inaccurate science." As for accuracy I do not have any complaints, but I dare say that statistics is an unhurried science. Quarterly data on production, sales, exports and imports in the first three months of the year - in short, all the figures by which you can analyze the state of the industry - are published only in early May. Read More
I was alerted to an article on the online version of the Telegraph, http://fashion.telegraph.co.uk/article/TMG9264690/Queens-Diamond-Jubilee-De-Beers-pay-homage-with-a-Talisman-crown.html It certainly brightened up another rainy afternoon in drought blighted Sussex. The article is about a crown De Beers have had made to commemorate the Queen’s upcoming Diamond Jubilee. Read More
The World Diamond Council's (WDC) 8th Annual Meeting has concluded. The meeting passed a resolution expressing support for expanding the definition of "Conflict" as defined by the Kimberley Process Certification Scheme. Keynote speaker Susan Shabangu, mining minister of South Africa, stated that the challenge to the sustainability of the diamond industry is no longer limited to stemming the trade of conflict diamonds, but also to "ensuring that we support the fledgling democracies, and emergent economies previously ravaged by conflict fueled by the illicit trade of this commodity."Read More
It is not often these days that any newspaper can bring a smile to my face, but of all it was the Vancouver Sun’s headline that hit the button with ‘Younger Dix helps put the sparkle in Forevermark’. I did not bother to read the rest of the story, why spoil a good start. Since the launch of the Forevermark by De Beers, I have always been rather curious about its goal. Read More
Diamond market overview Traders have signalled a weakening in prices, reflected on the main PolishedPrices index, which showed polished prices continue their downward trend that started in March. The downward movement in polished comes at a time when the main producers, notably DTC and Russia’s ...
Should the recent conviction of Liberian warlord Charles Taylor for war crimes be seen as the last word on blood diamonds, or a moment to take note of how the diamond industry has been caught offside by new forms of violence that threaten once again to taint a "girl's best friend"? It's a question the World Diamond Council, the industry group created in 2000 to address the problem of conflict diamonds, needs to ask as it gathers (May 13-14) in Vicenza, Italy, for its annual meeting. Read More
When it comes to profit margins, the middle man always gets squeezed. From a diamond industry perspective, this is easily assessed with a quick look at the financial statements of companies operating in the various sectors along the pipeline. Read More
The Reserve Bank of India (RBI) directed exporters to convert 50% their foreign currency held in Exchange Earner's Foreign Currency (EEFC) accounts into rupee within a fortnight to curb the currency's slide against the dollar. Read More