GJEPC Artisan Awards celebrate best design talent from Indian gems & jewellery industry

Author: unknown - Published 15-03-2019 20:29 - (0 Reads)
It was a night to remember as the stars of designer jewellery came together at the Royal Opera House in south Mumbai recently. Following the theme of ‘Enchanted Cosmos’, The Gem & Jewellery Export Promotion Council (GJEPC) held the Artisan Jewellery Design Awards 2019 powered by GIA (Gemological Institute of America) and co-partnered by the DPA (Diamond Producers Association).

India: Slow Demand for Smaller Goods

Author: unknown - Published 14-03-2019 21:41 - (0 Reads)
Sentiment cautious, with selective interest in smaller sizes. Surplus of +11 goods has placed pressure on prices. Firms trading rough rather than manufacturing, creating shortages in certain melee categories. Slow demand for diamonds under 0.50 carats, but better sales of round, 1 ct. stones. Dealers seeing stronger orders from US than China, with certified goods easier to sell than uncertified. Liquidity low for manufacturers and traders as Mar. 31 financial year-end approaches.

Global diamond miners to cut production by a third

Author: Rajesh Bhayani - Published 14-03-2019 21:39 - (0 Reads)
A body representing eight leading global diamond mining companies has warned against excessive mining of the gem, saying this has led to a drop in the prices of the precious stone. It also said that the current scenario in India is not rosy.

Rapaport Weekly Market Comment

Author: unknown - Published 14-03-2019 21:06 - (0 Reads)
Market sentiment weak, with select categories seeing demand. Diamonds between 0.70 ct. and 1.99 ct. moving well, but large stones slow. Sluggish demand for goods under 0.50 ct., with manufacturers reducing production of that size. Rough market subdued. Alrosa Jan.-Feb. sales -40% to $627M. Belgium Feb. rough imports -28% to $621M, polished exports -3% to $1.2B. Gem Diamonds 2018 revenue +25% to $267M, profit +171% to $47M after record production of exceptional stones. Eurostar Diamond Traders close to bankruptcy amid $500M debts. Signet appoints Jamie Singleton president of merged Kay, Zales and Peoples leadership team.

CIBJO releases simplified guide to responsible practices in diamond, coloured stones, pearl and coral trades

Author: unknown - Published 14-03-2019 15:32 - (0 Reads)
CIBJO, the World Jewellery Confederation, has released a simplified guide to ethical and responsible practices in the handling and trading of diamonds, coloured gemstones, pearls and coral, and has made it available for downloading in PDF format from the CIBJO website, in multiple languages, free of charge.

GJEPC Inaugurates $2B Jewelry Complex

Author: unknown - Published 11-03-2019 21:33 - (0 Reads)
The Gem & Jewellery Export Promotion Council (GJEPC) has begun building a 21-acre industrial jewelry park it believes will generate nearly $6 billion in annual revenue.

Gold Prices Rise On Renewed Demand: 10 Things To Know

Author: unknown - Published 08-03-2019 13:05 - (0 Reads)
Snapping its downward trend, gold prices witnessed a rise of Rs. 200 to Rs. 33,270 per 10 grams at the bullion market on Friday in the national capital, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Fresh buying from jewellers amid firm trend overseas led to the strengthening of the yellow metal, traders were quoted as saying in the PTI report. In the previous six sessions, gold rates had declined by a total of Rs. 1,130.

India: Margins Under Pressure

Author: unknown - Published 07-03-2019 13:13 - (0 Reads)
Manufacturers maintaining reduced production in quiet market. Margins under pressure due to high rough prices at De Beers sight and subdued polished demand. Steady orders for 0.50 to 1.99 ct., G-H, VS2-SI1 (3X, no fluorescence). Stones with good or fair cut very hard to sell. Melee stable, with selective demand for stars, but manufacturers want to sell bigger melee sizes, as they offer better profits. Traders and manufacturers showing growing interest in synthetics.

Rapaport Weekly Market Comment

Author: unknown - Published 07-03-2019 13:11 - (0 Reads)
Diamond trade cautious after slow Hong Kong show. Demand selective and inventory levels high, with buyers insisting on deep discounts for goods under 0.50 ct. Low manufacturing profits reducing Indian polished production as smaller goods not making money. 0.30ct. RAPI -0.6%, 1 ct. RAPI +0.1% in Feb. with better market for 0.70 to 1.99 ct. De Beers prices flat at $490 million sight. Far East consumer outlook improving as US and China approach trade deal. Chinese retailers restocking after Lunar New Year, with Hong Kong jewelry and luxury sales +5% to $1.1B in Jan. HRD adopts natural-diamond grading language for synthetics reports.
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