India gold demand picks up as prices dip; buyers eye further correction

Author: unknown - Published 01-03-2019 13:42
Gold demand in India improved this week due to a fall in local prices, while some investors in other major Asian centres sold the metal back to make use of relatively higher prices while delaying purchases on expectations of a further correction.

Rapaport Weekly Market Comment

Author: unknown - Published 28-02-2019 13:56
Slow start to Hong Kong show, but optimistic Far East buyers are restocking inventory after Chinese New Year. Dealers hoping show will stimulate better trading after sluggish Jan./Feb. Rough market cautious as profit margins remain tight despite rough-price reductions at De Beers sight. Swiss lab SSEF launches GemTrack, linking polished to rough colored stones. Michael Hill 1H sales -3% to $226M, profit +124% to $14M. Sarine 4Q sales -6% to $12M, profit -85% to $93,000. Rio Tinto diamond revenue -2% to $695M, profit +28% to $118M. Lucara 2018 revenue -20% to $176M, profit -82% to $12M. De Beers appoints Nompumelelo Zikalala CEO of merged South Africa and Canada mining divisions.

Alrosa Recovers 99ct. Diamond at New Mine

Author: unknown - Published 28-02-2019 13:53
Alrosa has unearthed a 98.8-carat, gem-quality diamond from its new Verkhne-Munskoye mine in Yakutia, it said Wednesday.

Lucapa secures first diamond sales from Mothae plant

Author: unknown - Published 28-02-2019 13:52
Lucapa Diamond Company’s first sale from its new Mothae kimberlite plant in Lesotho, southern Africa has returned $5.3 million at a tender in Antwerp, Belgium.

SSEF launches GemTrack™ to help define origin of polished gemstones

Author: unknown - Published 26-02-2019 13:41
The Swiss Gemmological Institute SSEF has announced the launch today of GemTrack™, a new service providing expert scientific opinion linking a cut gemstone to the rough stone from which it originated, thus enabling gemmologically the documentation of part of the stone's journey from mine to market.

Compulsory hallmarking of gold jewellery to kick in soon

Author: unknown - Published 23-02-2019 14:54
Jewellery buyers might have reason to cheer with compulsory hallmarking of gold ornaments and artefacts likely to be introduced soon. Currently , hallmarking is voluntary.

Rapaport Weekly Market Comment

Author: unknown - Published 21-02-2019 14:59
Rising expectations for Hong Kong show (Feb. 26), with hope that Chinese buyers will resume bulk orders following 2018 slowdown. Dealers uncertain about prices. Suppliers taking a lot of goods to the show. Top-make RapSpec A2+ seeing steady demand and short supply. Rough market cautious ahead of De Beers sight, as manufacturers are squeezed by high rough prices and inflated polished inventory. De Beers 2018 revenue +4% to $6.1B, earnings -34% to $349M, average price +6% to $171/ct. Petra Diamonds appoints Richard Duffy as CEO, 1H revenue +8% to $207M, loss of $58M vs. loss of $118M the previous year. India Jan. polished exports -16% to $1.7B, rough imports -40% to $858M.

34ct. Yellow Diamond Sells for $520K

Author: unknown - Published 21-02-2019 14:56
The old-mine-cut, 34.28-carat, fancy-light-yellow, VS2-clarity diamond ring, set in platinum and white gold, was the lead item at the Clars Auction Gallery sale in Oakland, California. It realized $15,155 per carat, according to Rapaport calculations.
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