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The rough diamond market is now at a tipping point and De Beers must reduce its prices by 10 percent to 20 percent if the miner has any chance of restoring its own growth prospects – never mind diamond manufacturing profit.
If you are trying to see the half-full part of the glass, you’ll hear the voices that say that “De Beers finally got the message and lowered prices.”
Global diamond jewelry demand rose 2.9 percent year on year to $81.4 billion in 2014, according to industry insight data published by De Beers on Friday, the 20th of March.
Millennials spend more on jewelry than any other age group Press Release – A report released today by Edahn Golan Diamond Research & Data reveals that for the first time, millennials have spent more than any other age group on fine jewelry.
Diamond market overview The main focus in the dealer market over the past week was on the Hong Kong jewellery trade show March 4 – 8, which failed to meet dealer’s expectations.
The diamond market is being greatly influenced by economic sentiment. A far cry from the supply-driven market that it once was, today, short-term diamond trading is largely driven by macroeconomic factors.
Among the many landmark developments evolving in the industry this year is that China is changing.
By most accounts, this week’s Las Vegas jewelry shows were positive even if diamond trading was not especially vibrant.
The JCK Las Vegas show closed Monday as activity signaled improved sentiment in the U.S. jewelry retail market.
The recent slump in gold prices has not impacted the diamond market. Having enjoyed a stable and positive first quarter, diamond trading was steady this week while gold markets were in panic.
The recent proposals made by the Gem and Jewellery Export Promotion Council (GJEPC) for the 2013-2014 Union Budget are a step in the right direction but are not far-reaching enough.
The recent improvement in both rough diamond trading and prices in the secondary market should raise some eyebrows. While it has helped inject additional confidence into the market, it remains unclear whether this momentum will be sustained.
