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The Gemological Institute of America has invalidated 1,042 grading reports issued by its grading lab, as they bear grades that were altered after its system was accessed without authorization by former employees of its database support contractor, Tata Consultancy Services (TCS).
Low rough diamond demand expected through 4Q. De Beers will allow sightholders to defer their entire November allocations until December as diamond manufacturers remain under pressure from weak market conditions.
This week, the Diamond Producers Association, the group formed earlier this year by the world’s major miners, announced that it has tapped longtime jewelry industry marketer Sally Morrison as its new managing director of marketing, bringing her back to where she started in this industry.
Alrosa Vice President Andrey Polyakov has been tapped as the next vice president of the World Diamond Council, the organization announced following its annual general meeting last week in Russia.
De Beers’ International Institute of Diamond Grading & Research (IIDGR) is to begin offering its melee testing service in Surat, India and Antwerp, Belgium.
LVMH Moët Hennessy Louis Vuitton reported an 18 percent increase in revenue to $28.8 billion (€25.3 billion) for the first nine months of 2015, with its watches and jewelry business jumping 22 percent.
Gold, platinum, and silver prices have all done an about-face in the last month, just as many forecasters had given up on precious metals.
Tiffany and Cartier are the most recognized jewelry brands among wealthy consumers, according to a new survey by the American Affluence Research Center.
Traders of mined diamonds are divided over how to best respond to the growth of their laboratory-grown counterparts. Last week, India’s Bharat Diamond Bourse (BDB) became the second exchange to ban trading of man-made diamonds, ignoring a section of the industry
New York – Polished diamond prices continued their slide in September, with U.S. demand for diamonds described as steady but growth in other key markets restrained.
De Beers sightholders refused about half of their allocated supply last week, reducing the estimated value of rough sold at the sight to $200 million.
Russia’s ALROSA has discovered a 102.85-carat diamond with a moderate yellowish hue at its Jubilee kimberlite pipe that is thought to be worth more than $480,000.