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The growing prevalence of lab-made diamonds is a source of great worry to Indian diamond manufacturers and wholesalers. During a recent visit to Mumbai, every manufacturer I spoke with except one asked about them.
The World Diamond Mark (WDM) program introduced at the 35th World Diamond Congress in Mumbai was to start in July 2013.
De Beers said that demand for diamond jewellery showed a moderate growth in the key markets of the US and China during the first half of the year despite some macro-economic concerns.
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.
De Beers rough diamond sales were flat at $3 billion during the first half of 2013 after prices rose 6 percent, Anglo American reported.
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.
In the past decade, Americans spent less of their income on diamond jewelry.
De Beers sold an estimated $600 million worth of rough diamonds at its July sight after making slight increases to prices, on average.
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.
The Democratic Republic of the Congo (DRC) produced 21.524 million carats last year, data published by the Kimberley Process (KP) shows.
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.
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.