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Polished diamond prices softened in January after their moderate increase in December. Prices declined 1.1 percent following lukewarm demand for diamond jewelry in the holiday season and expectations that retailers will restock slowly.
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.
What is the chance for an American consumer to buy these days a piece of diamond jewelry made of a rough diamond found, for instance, in the Soviet Union in 1974? Or in Angola in 1993? Or in Côte d’Ivoire in 1995? According to Chaim Even-Zohar, the “home mine” owned by the U.S. population has […]
Prices stable as premiums improve De Beers January sight had an estimated value of $550 million as the company continued to limit supply. Prices were basically stable with slight changes made to assortments.
Various factors drive rough diamond buying. An obvious one is expectations of polished diamond sales.
This is not the column I’d prepared for today. That one was written, proofed, readied, and even had a visual prepared to illustrate a point – and then I abandoned it.
Demand for rough diamonds is increasing. Rough traders are competing for goods, which has driven up prices of DTC goods over the past few days.
Harry Winston Diamond Corp’s sale of its luxury brand to Swatch Group is the most significant step yet taken by this rapidly evolving company. Essentially, the deal marks the end of Harry Winston the mining company, as the brand returns to its luxury roots, and the mining business is renamed Dominion Diamond Corporation.
Rough diamond prices increased by more than 20 percent each year since the post crisis era as producers struggled to keep pace with demand.
Harry Winston Diamond Corp. (HW)’s $1 billion sale of a luxury unit to Swatch Group AG (UHR) provides the cash to invest more in diamond mining, a business that last year was more than twice as profitable as jewelry, Liezel Hill and Christopher Donville write in an article posted by Bloomberg News at www.businessweek.com on […]
The long and winding road from wrestling with deep losses and large debts to the highlights of profits, major acquisitions and large returns on a divestment, was as precarious as the ice road leading to Canada’s diamond mines.
“… the game of Snakes and Ladders captures, as no other activity can hope to do, the eternal truth that for every ladder you hope to climb, a snake is waiting just around the corner, and for every snake a ladder will compensate,” Salmon Rushdie, Midnight’s Children.