What The FTC Diamond Ruling Means For Consumers And Diamond Marketers

Author: Pamela N. Danziger - Published 02-08-2018 22:58 - ( Reads)
The Federal Trade Commission recently amended its Jewelry Guides to help prevent deception in jewelry marketing. With new guidance for the jewelry industry, its wide-ranging ruling is a welcome relief to the man-made diamond industry and a migraine-sized headache for the mined-diamond industry. At the end of the day, it’s consumers who will benefit most from the new ruling

Botswana’s Rough Exports Drop in 1H

Author: unknown - Published 02-08-2018 22:54 - ( Reads)
Exports of rough diamonds that De Beers mined in Botswana declined 2.5% to $1.67 billion in the first half of 2018, according to data the nation’s central bank released this week.

Diamond Trading slows in July

Author: Latika Bhargava - Published 02-08-2018 22:51 - ( Reads)
Diamond prices softened slightly in July due to a seasonal slowdown as US wholesalers closed for their summer vacations. Bargain-hunters were asking for higher discounts during the quiet period, but suppliers had little urgency to sell after a positive first half.

Rapaport Weekly Market Comment

Author: unknown - Published 02-08-2018 22:48 - ( Reads)
New US Federal Trade Commission guidelines still require full disclosure for lab-grown diamonds. While the FTC expanded the definition of the word “diamond” to include synthetics, it continues to restrict the use of the word “diamonds” to natural diamonds unless it is immediately preceded by a phrase that clearly discloses the product is not a mined diamond. News: Trading centers quiet, with Antwerp and Israel shutting for summer vacation. Polished prices soften in seasonal slowdown, with 1 ct. RAPI -0.4% in July. Rough premiums cool to 4% after $530M De Beers sight. Rio Tinto 1H diamond sales -5% to $323M. Swatch Group pulls out of Baselworld 2019.

Gold demand slumps to lowest level since 2009

Author: unknown - Published 02-08-2018 13:51 - ( Reads)
Global demand for gold fell to its lowest level since 2009 in the first half of this year as an improving US economy drove investors to riskier assets and consumers bought less gold jewellery, particularly in India where an inauspicious period for Hindus led to fewer weddings.

Rio Tinto Diamond Revenue Declines

Author: unknown - Published 01-08-2018 22:46 - ( Reads)
Diamond sales at Rio Tinto fell 5% to $323 million in the first half of the year, the miner reported Wednesday.

Asia Gold: Weaker local rates stimulate buying in India, Singapore

Author: Rajendra Jadhav, Apeksha Nair 3 MIN READ - Published 27-07-2018 03:14 - ( Reads)
Gold demand in India improved this week as local prices traded near a six-month low, prompting jewellers to replenish inventory, while weaker rates in Singapore saw demand pick up further there.

De Beers sizes up Canadian diamond project, first big buy in nearly two decades

Author: Barbara Lewis - Published 26-07-2018 20:25 - ( Reads)
Anglo American unit De Beers expects its purchase of Canada’s Peregrine Diamonds (PGD.TO), its first upstream diamond acquisition since 2000, to be completed in a month to six weeks’ time. Only then can it really start sizing up the asset.

Rapaport Weekly Market Comment

Author: unknown - Published 26-07-2018 20:21 - ( Reads)
Summer lull continues, with some improvement as US dealers return from vacation. Prices slightly softer due to seasonal slowdown. Suppliers optimistic for 2H amid US and China jewelry growth, despite trade tensions. US jewelers improving efficiency with customization and omni-channel as 477 retailers closed in 1H vs. 445 last year. Indian cutters cautious due to weak rupee and tighter credit, as banks cut lending -10% since alleged $2B Nirav Modi fraud. De Beers 1H revenue +2% to $3.2B, underlying earnings -41% to $202M, rough prices +1.6%. Alrosa 1H production -17% to 15.9M cts. LVMH 1H jewelry and watch sales +8% to $2.3B. Federal Trade Commission classifies lab-grown as a diamond.

Lab-Grown Diamonds Are Diamonds, Says FTC

Author: unknown - Published 25-07-2018 20:23 - ( Reads)
The Federal Trade Commission (FTC) has expanded its definition of “diamond” to include those grown in a laboratory, as part of several changes to its jewelry guidelines.
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