State department urges jewelry industry to do more on diamond sourcing
In an appearance at a July 29 JA show panel, U.S. Assistant Secretary of State Jose W. Fernandez urged the industry to do more to track the origin of its diamonds.
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De Beers sales flat in 1H
De Beers rough diamond sales were flat at $3 billion during the first half of 2013 after prices rose 6 percent, Anglo American reported.
Trading down
It makes sense that diamond prices should go down when the market declines. The fact is the diamond industry has been cautious this month due to weakened Chinese and Indian economic sentiment.
Americans are spending less on diamond jewelry
In the past decade, Americans spent less of their income on diamond jewelry.
De Beers july sight estimated at $600M
De Beers sold an estimated $600 million worth of rough diamonds at its July sight after making slight increases to prices, on average.
Doing for others is still the best way to reach Millennials
Merrick, NY—Despite being branded as “entitled” from a collectively coddled upbringing, Millennials are far more likely to be community minded and concerned with the welfare of others than their Boomer parents or Gen-X predecessors.
DRC learns quality matters most than volume in diamond mining
The Democratic Republic of the Congo (DRC) produced 21.524 million carats last year, data published by the Kimberley Process (KP) shows.
De Beers develops ‘smartest’ rough diamond distribution
De Beers recently said that it will start providing customers of its rough diamond auctions with an opportunity to determine the volume of goods they wish to purchase, over a given period, through the introduction of forward contract sales.
Diamond-cutting and -polishing industry in distress
The South African diamond-cutting and -polishing industry is in distress, states World Federation of Diamond Bourses president Ernie Blom, pointing out that, 20 years ago, the industry had 4 500 polishers – currently, there are fewer than 600.
Diamonomics
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.
Index ranks diamond, gold-mining nations
New York – The Revenue Watch Institute, a New York-based nonprofit that promotes the transparent and accountable management of natural resources, recently released its 2013 Resource Governance Index, a ranking that includes a number of nations that mine gold and diamonds.
Rough forward contracts
The decision by De Beers to introduce forward contract sales through its auction platform is a stunning development in the rough diamond market.