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De Beers Closes Diamond-Reselling Unit

Author: unknown - Published 04-04-2019 15:40 - (0 Reads)
De Beers is shutting its diamond-recycling division, as digital advancements in the sector have lessened the need for its services.

Lucapa Refinances to Strengthen Mothae Business

Author: unknown - Published 04-04-2019 15:38 - (0 Reads)
Lucapa Diamond Company has signed a new refinancing agreement that will allow it to reduce its debts and further develop its Mothae mine in Lesotho.

For thousands of diamond traders, a new bourse in Surat promises to add to the shine

Author: unknown - Published 29-03-2019 14:12 - (0 Reads)
India's $23 billion diamond industry accounts for over one-third of its gems and jewellery trade, making up seven percent of the country's Gross Domestic Product (GDP). India's exports of cut and polished diamonds, gold jewellery, and gem stones, are predicted to grow 10 per cent year-on-year in FY19 according to the Gems and Jewellery Export Promotion Council (GJEPC).

THESE TWIN BLUE DIAMONDS COULD FETCH $8 MILLION

Author: unknown - Published 28-03-2019 14:15 - (0 Reads)
Christie’s New York auction of Magnificent Jewels (April 16) will include some stunning diamonds and diamond jewels, among them a multi-million dollar pair of blue diamonds set in a stunning ring.

Rapaport Weekly Market Comment

Author: unknown - Published 28-03-2019 14:11 - (0 Reads)
Sentiment weakens after soft first quarter. Dealers avoiding large inventory purchases, and manufacturers reducing supply. Miners bracing for tough year as first-quarter sales decline an estimated 30%. Rough market under pressure, with some analysts optimistically predicting flat rough prices in 2019. Sightholders hoping profit margins will improve after next week’s sight. Baselworld announces price cuts and changes to diamond section, after smaller 2019 show. Alrosa estimates 2018 global diamond-jewelry sales +4% to $85.9B. Tiffany 2018 revenue +7% to $4.4B, profit +58% to $586M. US 2018 polished imports +8% to $23.3B. GIA to introduce polished-diamond country-of-origin report.

Blockchain-based trading platform CEDEX says it has now secured a supply of more than 6,000 diamonds ahead of its launch of a diamond exchange-traded fund (ETF).

Author: Yogita Khatri - Published 28-03-2019 14:08 - (0 Reads)
Announcing the news on Wednesday, CEDEX said that the diamonds – worth over $50 million – will provide traders with a variety of investment options prior to the launch of the ETF, which is currently in development. The supply comes from diamond holders registering their stock on the exchange for trading, the firm told CoinDesk.

The growth dilemma for Indian gold refiners

Author: unknown - Published 28-03-2019 14:03 - (0 Reads)
India in 2018 produced 281.3 tonnes of fine gold from both gold and silver dore that were imported to the country. It was the highest on record and its share to gross gold imports touched 37 per cent, and it share of total imports for domestic consumption (net imports) touched 55 per cent.

Sotheby’s to Auction 3ct. Blue

Author: unknown - Published 27-03-2019 14:14 - (0 Reads)
A fancy-intense-blue diamond ring with an estimate of $2.5 million to $3 million is on track to be the top seller at Sotheby’s Magnificent Jewels auction in New York next month.

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