Rough patch continues
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Friday,August 30 2019 [ Issue 5 August/ 2019 ]
Rough patch continues
One of the world’s biggest diamond miners – De Beers reported a 44 per cent slump in their Botswana sale earlier this week. From $503 million last year, the sales of rough diamonds have slipped to $280 million this year. In July, Russian diamond miner ALROSA reported a 50 per cent decline in diamond sales too.

The situation is tense in the industry as the U.S. and China continue to battle it out. The whole pipeline – from wholesalers to manufacturers are facing the ramifications because of the ongoing trade war. It will be interesting to note the sentiment and mood at the upcoming September show in Hong Kong. While councils from various countries have requested for a postponement of the show – looks like the show will go on.

As the lull continues, the only hope we have is the upcoming festive season – with gold having hit the 40K per 10 gram mark, let’s keep our fingers crossed about people still interested in buying jewellery.

 
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Highlights
OM Jewellers, one of the most trusted jewellers in Mumbai, launched their festive collection crafted with genuine, natural Forevermark diamonds. Film star Karisma Kapoor graced the occasion at their Borivali store today. High
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Vummidi Bangaru Jewellers, one of India’s top jewellery brands popularly known for exquisite craftsmanship and unique designs, today launched two hand-crafted collections, The Ginkgo Leaf and Buddha Podin platinum. The
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GIA India, in collaboration with the Maharshi Karve Stree Shikshan Samstha (MKSSS), Pune, trained 19 students on SWIFT Jewellery Design, a 5-day skill-enhancement training programme from Aug 18 - 22. This training, supported
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Kathryn Kimmel, senior vice president and chief marketing officer, will retire from GIA (Gemological Institute of America) on Aug. 30. During her 29 years of dedicated service to the Institute and its mission to protect consu
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HRD Antwerp is expanding its business in India with new services which include jewellery grading and retail based education courses. Mr. Ramazan Mete Alak – EVP Global Sales states, “In today’s global scenar
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The International Gemological Institute conducted a ‘Young Gemologist’ workshop for the students of Panbai International School, Mumbai. Known to enthuse young and budding gemologists, the workshop has been introd
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Offering pearls in virtually every type, quality and price point imaginable, the September Fair is anticipated to feature major loose pearl suppliers, who will present their prized pearl parcels, pairs, strands and layouts at
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The emeralds were extracted by Kagem Mining Ltd in Zambia (“Kagem”, which is 75% owned by Gemfields and 25% by the Industrial Development Corporation of Zambia). The proceeds of this auction will be fully repatria
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As a part of their continued efforts to educate consumers of diamond jewellery, IGI conducted a Know Your Diamond Jewelry seminar for the esteemed clientele of Tejasvi Jewellers. The knowledge driven session was well attended
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Narayan Jewellers by Ketan and Jatin Chokshi unveiled their diamond collection at the second edition of The Real Cut Season 2 at Lakme Fashion Week on 24thAugust, 2019 at 5.30 pm in collaboration with Diamond Producers Associ
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Gemological Science International, one of the largest gemological organizations in the world, conducted a full review of Marksinventory for undisclosed lab grown diamonds. GSI sent a mobile team to Marks Jewelers’ 25,00
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The story of the fugitive diamantaire Nirav Modi will fill the pages of an upcoming book, "Flawed: The Rise and Fall of India's Diamond Mogul Nirav Modi". Hitting the stands on August 31, the book written by journalist-author
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