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The Surat diamond sector is virtually closed today with workers instead attending a rally in Ahmedabad to demand better education and jobs for members of the Patidar (a caste found primarily in Gujarat) community.
Don’t be surprised if diamantaires are suddenly talking about Zhou Xiaochuan and Janet Yellen. The actions of the two – who respectively lead the People’s Bank of China and the U.S. Federal Reserve – may put additional pressure on diamond demand and ultimately polished prices.
Drawing its inspiration from the iridescent blue and the light in which the Indian city basks, the Jodhpur necklace, the key piece from the Bleu de Jodhpur collection, from Maison Boucheron, oscillates between innovation, exuberance and transparent effects.
In an unprecedented move and a sign of the diamond industry’s deepening crisis, De Beers is letting sightholders put off buying up to 75 percent of their allocations at its August sight.
I used to love bashing De Beers, and if you read through the archive of the many articles I have written in the past, you will see that I did so with fervor.
From retailers in Middle America to jewelry manufacturers in India, from polishers in Israel to rough traders in Antwerp and miners in Africa – the global diamond industry seems tired, pessimistic and gloomy.
The mood of the midstream of the diamond industry is reaching new lows, as demonstrated by firsthand rough diamond buyers. The willingness to purchase, the overall outlook and the desire to manufacture are all at a low level.
In recent months, industry members and experts have taken quite a lot of pains trying to figure out the cause of stagnation in the diamond market. By all appearances, the diamond market “fundamentals” promise a bright future for the industry
Social media, particularly Facebook, has grown more important to U.S. retailers for engaging with and attracting new customers, according to the “State of Retailing Online 2015,” conducted by Shop.org, Forrester Research Inc. and Bizrate Insights.
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.
Diamond Services developed a new mini Raman spectrometer that it says is able to detect synthetic and color-treated diamonds and gemstones falsely presented as diamonds. The device will be unveiled at the Hong Kong Jewellery & Gem Fair in September.
Far be it from us to suggest that you get married several times! But the beautiful wedding rings from the De Beers Jewellery collection would be worth the trouble…