A Rough Road
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Saturday,June 15 2019 [ Issue 3 June/ 2019 ]
A Rough Road
Rough imports saw a significant decline as US-China trade war escalates. The industry is hopeful for an amicable solution, which it believes will help revive the cut and polished trade industry. The impending G-20 summit where the presidents of both countries are expected to discuss over the ongoing issue might give us an answer to the issue.

Meanwhile in Surat, prices of small cut and polished diamonds in the range of 0.30 cts has fallen as low as 15%. Many of these small stones are manufactured by small and mid scale companies in Surat. A liquidity crunch coupled with hike in rough prices has really affected the health of the industry.

The South Indian based IMA Jewels multi crore scam will lead to further tightening of line of credit and difficulties in obtaining bank loans for the industry. A few bad apples have really tarnished the reputation of an entire industry, which was once famous for its integrity and honesty.

In other news though, The National Geographic recently published an article on how Earth’s seabed may be destined to become diamonds - talk about light at the end of the tunnel!

 
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Highlights
In what seems to be a long drawn Trade War between U.S. and China, sectors accross the board are getting dearly affected, the diamond industry being one.Nearly ten out of twelve diamonds are cut and polished in India. India e
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The Botswana Diamonds associate Vutomi received permission on 7thJune 2019 to sell diamonds recovered during bulk sampling at their Thorny River project. Up to Monday 10thJune, 256 carats of rough diamonds had been recovered.
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A even larger section entirely dedicated to the world of watches and fascinating time-pieces where refined quality and brand selection has also been extended. This is ‘The Watch Room’ project, scheduled as part of
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The company sold 14 polished diamonds with total weight of 108 carats, and 48 fancy colored polished diamonds weighing 131.6 carats in total. The overall revenue amounted to $2.2 million. Firms from Israel, the US, Belgium, I
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The GIA (Gemological Institute of America) Board of Governors welcomed Patricia Ann ‘Kiko’ Harvey, inspector general and director of oversight at the United Nations World Food Programme, as the newest member to th
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BlueRock Diamonds told investors that the 24.98 carat diamond recovered from the Kareevlei mine has been sold for US$190,000 at auction. "We are delighted with the sale of our largest diamond to date, a 24.98 carat gem qualit
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The IGI D Show kick-started with over a hundred diamond jewelry retailers at the Grand Hyatt in Goa. The first day of the show saw some stellar design creations exhibited by some of the leading names in the industry. The form
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Jewelers for Children held the 7th Annual Rings of Strength Tour on Thursday, May 30, 2019, at the Venetian Resort in Las Vegas, NV. This year marked the first year the event was not held at Mandalay Bay. With the move of the
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Glenn Nord, member of the GIA Board of Governors and past president of the Institute, passed away early on Sunday, June 9. Throughout his more than 50-year association with GIA, Nord was a student, instructor, president and m
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The International Gemological Institute, IGI, conducted a ‘Know Your Diamond’ seminar for the members of theNational Sports Club of India (NSCI) in Mumbai.Appreciated and known for its integrated approach at sprea
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When Inkalamu a 5655ct magnificent emerald was bought by the father son duo Rajkumar and Rishabh Tongya of Diacolor late last year, much stir wasn't created around it. In business though, everything is about timingand so afte
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Following the Sarine Diamond JourneyTM provenance tracking program’s launch earlier this year, significant interest has been expressed by retailers interested in sourcing Sarine Diamond Journey documented goods. One of
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