Author: unknown - Published 12-12-2019 13:36
Gem Diamonds’ Letšeng mine in Lesotho keeps on delivering: According to the miner, the mine yielded 114 carat Type 1 yellow diamond on December 9.

Rapaport Weekly Market Comment

Author: unknown - Published 12-12-2019 13:31
Polished trading driven by last-minute US holiday orders and preparations for Chinese New Year. Multi-channel marketing and personalization are key themes for retail this season. Consumers shifting to lower price points. Diamantaires satisfied with Dec. orders after tough year. Dealers hoping reduced rough supply will support prices and relieve inflated polished inventory. De Beers cuts production plan to 32M-34M cts. as Anglo American reports 2019 inventory grew by $500M. Bain forecasts recovery only in 2021. ABN Amro tightens credit conditions, citing reduced midstream requirements due to streamlined production and sales efficiency.

Alrosa to mine first diamonds from Angola in mid-2020

Author: Cecilia Jamasmie - Published 11-12-2019 13:33
The world’s top diamond producer by output, Alrosa (MCX:ALRS) said on Wednesday it planned to start trial mining at a new section of its Luaxe deposit in Angola by mid-2020.

De Beers Lowers 2020 Production Forecast

Author: unknown - Published 11-12-2019 12:29
De Beers has reduced its production outlook for next year and beyond amid uncertainty about the health of the diamond market.

Blue Diamond Earrings Score Big at Bonhams

Author: unknown - Published 10-12-2019 13:35
The set features a marquise-shaped brilliant cut, fancy-intense-blue diamond with VS1 clarity, weighing 1.81 carats, and an oval-shaped modified brilliant-cut, fancy-blue diamond, weighing 1.62 carats. Those stones are topped by two cushion-shaped modified brilliant-cut diamonds weighing 2.24 and 2.28 carats, and surrounded by marquise and round brilliant-cut diamonds carrying a total weight of 2.60 carats. The piece sold for $1.28 million to an anonymous US buyer at Sunday’s auction, beating its presale high estimate of $1.25 million, Bonhams said Monday.

GIA decides to shut down Dubai operations to use its resources effectively to fulfill its mission of protecting consumers

Author: unknown - Published 06-12-2019 12:13
After ten years of operating in Dubai, a city that is known for its love for diamonds and jewellery, the Gemological Institute of America (GIA) has decided to wind up its operations. After continuously evaluating all of their global education and laboratory services, GIA has decided to this in coordination with the GIA Board of Governors to ensure that they use their resources as effectively as possible to fulfil their consumer protection missio

Chinese firm can’t sell products under Indian jewellery brand name

Author: K A Y Dodhiya - Published 06-12-2019 12:11
In a relief to famous jewellery brand ORRA, the Bombay high court (HC) through a temporary injunction, restrained a Chinese company and its agent in India from selling jewellery under the litigant’s brand name.

Gold prices today fall for third day in a row, silver rates decline

Author: Surajit Dasgupta - Published 06-12-2019 12:08
Gold prices in India today fell for the third day, tracking muted global cues. On MCX, prices of gold futures for February delivery were down 0.11% to ₹38,045 per 10 gram. After the three-day decline, gold rates are now down about ₹2,000 per 10 gram from the September highs of about ₹40,000 per 10 gram. Tracking gold, silver prices also edged lower today. On MCX, silver futures were down 0.20% to ₹44,524 per kg.
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