Diamond Crisis Deepens
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Saturday,November 09 2019 [ Issue 2 November/ 2019 ]
Diamond Crisis Deepens
In a surprising announcement, De Beers cut 5% of its November sales owing to stagnation of diamond sales. The price cut is unlikely to trickle down to the retail market and consumers shouldn’t expect to see diamond prices getting cheaper anytime soon.

The changing consumer behaviour has had a grave impact on the diamond industry as a whole as consumers are increasingly spending more on gadgets, travel and other luxury goods, while diamonds and diamond jewellery has taken a backseat.

On the coloured diamond front, blue and pink diamonds have managed to retain stability in these troubled times while yellow diamonds showed a slip of 1.5% in the current quarter. The Cullinan Dream, a 24.18 carat fancy intense blue VS2 rectangular-shaped diamond will be showcased in all its splendor it the upcoming Christie’s exhibition which is in collaboration with De Beers Group Institute of Diamonds.

The upcoming Shanghai Contemporary Art Fair will also exhibit the ‘Story in Every Gemstone’ installation by Gemfields where larger than life installations of ruby and emerald structures will allow visitors to obtain an immersive experience.

 
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Highlights
Gemfields will be presenting “A Story in Every Gemstone” installation at Art021 Shanghai Contemporary Art Fair, at the Shanghai Exhibition Centre. The 7th edition of this highly regarded art fair will enhance its
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Debbie Azar, President and Co-Founder of Gemological Science International (GSI), was interviewed by streaming news channel Bold TV on Friday, October 10. During her segment, she commented on diamond spending trends amongst m
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Following an announcement published today by ALROSA,Singapore Exchange Mainboard listed Sarine Technologies Ltd (“Sarine” or “the Group”) (U77:SI), a worldwide leader in the development, manufacturing,
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De Beers Group Institute of Diamonds is preparing to educate consumers on the specialist art of fancy colour diamond grading at its upcoming collaborative exhibition with Christie’s, which will feature several exception
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The Fancy Color Diamond Index (FCDI) for Q3 2019 showed a decrease of 0.5% in overall Fancy Color prices, driven by a 1.5% decline in the prices of Yellow diamonds. Prices of Blues and Pinks stood firm. As in the past 12 mont
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Thanks to the consultation with diamond dealers, lapidaries, craftsmen and retailers, and in general, with all the various players in the "Gems & Pearls" sector, Baselworld sees the number of exhibitors from this sector i
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GIA India conducted a five-day Diamond Grading Lab Class in Bengaluru. Many students and industry professionals opted for GIA India’s course to help them gain a better understanding of diamond grading. Participants gain
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In October, Platinum Guild International (PGI) hosted thetwo-day 2019 Platinum Jewellery Business Forum in China’s jewellery manufacturing hub of Shenzhen, which received widespread attention within the platinum and jew
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B.V. Chinai Charitable Trust (BVCFoundation), a philanthropy arm ofBVCVentures has been awarded the Certificate of Appreciation for planting 1000 native trees in Chota Kashmir, Aarey Colony in Mumbai. The certificate was pres
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Jennifer Lopez wore Harry Winston jewelry set in PLATINUM to “The Academy Of Motion Picture Arts And Sciences’ 11thAnnual Governors Awards” in Los Angeles on October 27th. Secret Combination two row diamond
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At the end-of-year emerald and ruby auctions, several schedules of Gemfields’ high-value emeralds and rubies will be offered for sale at the company’s closed-room auction with complete blockchain records, providin
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The company, the world’s biggest diamond producer, lowered prices by about 5% at its November sale, according to people familiar with the matter, who asked not to be identified as the information is private. The move is
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