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GIA OFFERS $2 MILLION FOR GEM AND JEWELLERY PROS IN 2020

Author: unknown - Published 08-08-2019 13:05
The Gemological Institute of America (GIA) will spend $2 million in scholarships during 2020. According to Gem Konnect, the money is aimed at “aspiring or current gem and jewellery professionals interested in GIA gemmology, jewellery manufacturing arts, distance education courses and lab classes in 2020”.

Rapaport Weekly Market Comment

Author: unknown - Published 08-08-2019 13:04
Diamond trade slow due to seasonal lull and market uncertainty. US jewelry sales compensating for weakness elsewhere, but retailers holding less inventory. New US tariffs on China imports to impact jewelers more than diamantaires. Trade war affecting confidence as stock-market wealth declines, with Dow -3% (August 1 to 7). Political protests creating concern for important Hong Kong show. Yuan’s devaluation to CNY 7/$1 and rupee’s slide to over INR 70/$1 raise costs of local China and India diamond buying. Tiffany expands into India, with Delhi store to open in 2H. Titan Company 1Q sales +16% to $737M, profit +11% to $51M. Jewelers of America elects Holly Wesche as new chair.

Tiffany to Launch in India This Year

Author: unknown - Published 07-08-2019 13:13
Tiffany & Co. will open its doors in India in an effort to capitalize on its already strong image and brand awareness in the country, the company said Wednesday.

Grib Mine Produces Three Massive Stones

Author: unknown - Published 06-08-2019 13:08
AGD Diamonds has unearthed three rough stones over 100 carats from its Grib mine in Russia, including one it claims is Europe’s largest.

BlueRock Diamonds increases its crushing capacity at Kareevlei

Author: unknown - Published 03-08-2019 13:08
AIM-listed diamond miner BlueRock Diamonds has completed an upgrade to the crushing circuit, including the installation of a larger cone crusher at its Kareevlei diamond mine in the Kimberley region of South Africa.

Rapaport Weekly Market Comment

Author: unknown - Published 01-08-2019 13:10
Rough sales plummet due to lack of profit and liquidity squeeze. Midstream pressures caused by high 2017/18 rough supply at inflated prices, combined with tighter inventory controls by retailers. Sightholders refuse goods as De Beers keeps prices stable at $250M July sight. Rio Tinto 1H diamond revenue -16% to $271M, loss of $5M. Polished prices continue to soften, with July 1 ct. RAPI -0.9%. Rough prices must come down to restore profitable trade. Miners and brands need to invest significantly more to raise diamond-jewelry demand. Israel bourse publishes second “I Love Natural Diamonds” social-media video. Jewelers of America raises $300,000 to test consumer-focused ad campaign.

Alrosa Nets Fish-Shaped Diamond

Author: unknown - Published 01-08-2019 13:04
Alrosa’s knack for recovering unusually shaped diamonds has scaled new heights with the discovery of a rough stone resembling a fish.

Roll back import duty hike on gold: GJC

Author: unknown - Published 30-07-2019 13:50
The All India Gem and Jewellery Domestic Council has urged the government to roll back the hike in gold import duty from 12.5 per cent to 10 per cent, and implement a comprehensive integrated ‘gold policy’ to save the gem and jewellery business.
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