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MarketWatch.com reported that “China is unlikely to surpass the U.S. in retail sales this year as previously expected thanks to the damaging effect of the current trade conflict between the two powers, but that milestone is likely to happen in 2021.“
It’s become clear: Consumers want firm guarantees that their diamonds are not associated with bad things. So do governments. And the industry is—perhaps belatedly—stepping up its efforts to offer that. Transparency and tracking have suddenly become “in.”
De Beers’ rough-diamond sales slumped to a 20-month low of $390 million in June amid weak sentiment in the manufacturing sector.
Following the United States’ decision – by means of a decree by President Donald Trump- to withdraw benefits under the Generalised System of Preference (GSP), the price of polished diamonds exported by India to the US will increase with seven to eight percent, according to rating agency CRISIL.
Christie’s sale of historic Indian jewelry and art was expected to be big, and it did not disappoint.
Are we on the verge of the gold rush—the sequel?
The wider diamond world is engaging with the small-scale mining sector and taking steps to encourage better standards.
The midstream of the diamond industry is feeling a bit glum right now, Rapaport senior analyst and news editor Avi Krawitz said during a seminar on “Surviving a Turbulent Diamond & Jewelry Market,” held as part of the JCK Las Vegas educational program on May 30.
Lightbox Jewelry, the De Beers–owned lab-grown jewelry brand that’s set the low price bar for lab-created diamonds ($800 per carat), debuted a handful of trendy new jewelry styles at this year’s Luxury show in Las Vegas.
Jewelry is one of three categories in the luxury sector expected to see solid growth in 2019, as domestic consumption in China and the US increases, according to Bain & Company.
During last year’s holiday season, sales of smartwatches outpaced those of traditional watches in the United States for the first time ever, according to respected watch industry tracker the NPD Group.
As rain fell for about five minutes on the typically sunbaked Las Vegas strip on the opening day of the JCK show, one couldn’t help but sense things might be a bit different this year.