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India’s rough diamond exports rise

Author: SANGEETHA G - Published 20-04-2019 13:13 - (0 Reads)
It is common knowledge that India imports rough diamonds from overseas, cuts and polishes them and exports them. Well, it is not as simple as that. India is also re-exporting part of the rough diamonds it has imported and the quantity of these re-exported roughs is almost equal to the polished diamonds it exports. While the industry body maintains that roughs are re-exported to overseas units set up by Indian diamantaires, some industry insiders argue that this circular trading is an “open secret”.

Credit squeeze, GST hiccups dent India's gems and jewellery exports in FY19

Author: Dilip Kumar Jha - Published 20-04-2019 13:04 - (0 Reads)
Gems and jewellery exports from India declined 3.12 per cent in 2018-19 owing to credit crunch, delays in GST (goods and services tax) refunds, and high import duties on polished diamond. Industry captains don’t see improvement in export in FY20 either.

Gold gains Rs 305 on jewellers' buying

Author: unknown - Published 19-04-2019 13:06 - (0 Reads)
Gold prices on Friday surged by Rs 305 to Rs 32,690 per 10 gram in the national capital on account of increased buying by local jewellers, according to the All India Sarafa Association.

Christie’s Is Auctioning Off a Massive Emerald Once Owned by Catherine the Great

Author: JUSTIN FENNER - Published 19-04-2019 13:00 - (0 Reads)
On the list of things Russian Empress Catherine the Great is known for, her gob-stopping jewelry collection isn’t at the top of the list. After all, what are a few mere baubles compared to administering the Golden Age of one of the world’s most powerful nations—and being, unquestionably, one of the most powerful women in history?

Alrosa Launches Zarya Diamond Mine

Author: unknown - Published 18-04-2019 13:17 - (0 Reads)
Alrosa has started diamond production at a new deposit in Yakutia with an expected mine life of 11 years, it said Wednesday.

Petra Diamonds on a roll after another major find at Cullinan

Author: Cecilia Jamasmie - Published 18-04-2019 13:15 - (0 Reads)
South Africa’s Petra Diamonds (LON:PDL) has found yet another big rock at its iconic Cullinan mine, the third coloured diamond over 100-carats since March that has been unearthed at the operation

Rapaport Weekly Market Comment

Author: unknown - Published 18-04-2019 13:09 - (0 Reads)
Sentiment mixed, with slow trading before Easter and Passover. Selective buyers looking for 3X (X3) fine VS-SI diamonds. Steady US demand for 1 to 1.50 ct. goods ahead of summer wedding season. Diamond cutters reducing production and seeking to offload excess 0.30 to 0.50 ct. inventory. Alrosa 1Q sales -37% to $988M, rough-price index -3%. Chow Tai Fook and Luk Fook signal slowdown during Chinese New Year, with decline in gem-set jewelry sales. Christie’s NY garners $30M (86% by lot). Sotheby’s NY sells $22M (78% by lot). US considers regulations requiring source-of-origin disclosure. THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON APRIL 26 DUE TO THE JEWISH HOLIDAY OF PASSOVER.

Coming soon, synthetic diamond detection centres

Author: M C Vaijayanthi - Published 17-04-2019 13:08 - (0 Reads)
The Diamond Producers Association (DAP) will soon be starting a project with the Gem and Jewellery Export Promotion Council in India to evaluate the feasibility of establishing regional detection centres to identify any synthetic or lab-grown diamonds, said a top official of the association.

Firestone finds another massive diamond at Lesotho mine

Author: Cecilia Jamasmie - Published 13-04-2019 14:11 - (0 Reads)
Africa-focused Firestone Diamonds (LON:FDI) has dug up a 72-carat yellow, whole makeable diamond at its Liqhobong Mine in Lesotho, the second one over 70-carat it has found this year.
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