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Gold prices rise on global tensions, weak rupee

Author: unknown - Published 14-06-2019 22:03
Gold prices rallied by ₹418 per 10 gm to ₹33,204 on Thursday in the wake of uncertainty in the global economy and a weak rupee.

Rapaport Weekly Market Comment

Author: unknown - Published 13-06-2019 22:12
Disappointing Las Vegas shows failed to add value for diamond dealers. Jewelry wholesalers did better, reflecting steady US market. Diamantaires focused on showcasing tech rather than diamonds; innovations included improved traceability programs, online sales platforms and better inventory management. Brands pushing bridal as average engagement-ring price continues to decline. Small De Beers June sight expected as manufacturers reduce cutting operations. Alrosa May sales -8% to $266M. Chow Tai Fook FY sales +13% to $8.5B, profit +11% to $597M, but 2H growth flat amid trade war uncertainty. Industry mourns the passing of former GIA president Glenn Nord.

Alrosa tenders more than $2 million of polished in Israel

Author: unknown - Published 13-06-2019 22:10
Alrosa, the world's leading diamond miner in volume, held an exclusive tender of polished diamonds in Israel. The tendered diamonds were all cut and polished by Alrosa's own manufacturing plants that operate under the supervision of the company's cutting division, DIAMONDS ALROSA, which also organized the tender.

Gems and jewellery exports plummet in May due to trade war, money crunch

Author: Rajesh Bhayani - Published 11-06-2019 22:07
Gross exports of gems and jewellery declined sharply by 12.85 per cent to $3.17 billion in May 2019 from $3.64 billiion a year ago. This is one of the sharpest falls, and it comes at a time when the industry was hoping for some recovery and a softer approach towards funding on the part of banks.

New York: Christie’s to showcase a collection of precious, royal jewellery from India

Author: unknown - Published 07-06-2019 13:40
Think Indian heritage and the days of the past, and we can’t help but think of the Maharajas and the Mughals. Christie’s, New York will unveil a historic sale on June 19 called Maharajas & Mughal Magnificence. Comprising 400 pieces, it will showcase the illustrious culture of Indian jewelled arts from the Mughal period as well as the age of the Maharajas.

Midstream struggling as diamond prices soften

Author: unknown - Published 06-06-2019 13:53
Diamond markets are under pressure as profit margins have tightened and the trade war with China has fuelled uncertainty. US jewellery sales are robust, but the midstream is not profitable enough to support a sustainable supply chain.

Rapaport Weekly Market Comment

Author: unknown - Published 06-06-2019 13:52
Slow trading at JCK show highlights middle-market liquidity and profitability challenges. Prices softening with 1 ct. RAPI -0.7% in May. Suppliers using technology and sourcing programs to demonstrate added value as jewelers reduce inventory purchases. US jewelry market steady with top independents gaining market share over majors by providing personalized service to millennials. Luxury jewelers exposed to trade war as Chinese tourists cut overseas spending. Tiffany 1Q sales -3% to $1B, profit -12% to $125M. Signet 1Q sales -3% to $1.4B, loss of $10M vs. loss of $497M the previous year. Swarovski plans move into natural diamonds. RapNet members vote no to lab-grown listings and price list

US Polished Imports Rise in 1Q

Author: unknown - Published 06-06-2019 13:45
Shipments of polished diamonds to the US grew 4% to $5.51 billion in the first quarter, as a stronger March canceled out a negative start to the year. Imports rose 13% to $2.23 billion for the month, compared with a 1% rise in January and a 3% decline in February.

Alrosa unveils digital solution to diamond tracing

Author: unknown - Published 05-06-2019 13:46
At JCK Las Vegas, Alrosa unveiled a new platform which will provide a complete history of the origins of its diamonds in digital and video formats.
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