The Week of Change
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Saturday,April 06 2019 [ Issue 1 April/ 2019 ]
The Week of Change
This has been one rollercoaster of a week for the diamond industry. Early last week, the Gemological Institute of America (GIA) updated its language to align with the recent changes implemented by the Federal Trade Commission. From July 1, 2019, GIA will discontinue the GIA Synthetic Diamond Grading Report, introduced in January 2007, and introduce the GIA Laboratory-Grown Diamond Report.

Though the industry is not really warming up to this move, it is important to understand that GIA has dropped the word synthetic from its nomenclature but will still use a different grading scale than it does for naturals. However, GIA will grade the colour and the clarity of lab-grown diamonds with descriptive ranges – that is for colour, it will be colourless, near colourless, faint, very light, and light, alongside which there will be information about the grades.

Bottom line – GIA will not grade lab-grown diamonds the same as naturals like say Antwerp lab HRD. The industry at large is worried – will dropping the word Synthetic from a grading body like GIA make lab-grown diamonds more attractive to consumers? May be, only time will tell.

 
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Highlights

He interacted with the diamond traders about the significance of the diamond industry in India’s economy. He was accompanied by Anand Sharma Former Union Minister of Commerce.

Deora fondly remembered his family’s association wit

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Waman Hari Pethe Jewellers, one of the most recognised names of the jewellery business in Mumbai since 1909, has partnered with Forevermark, the diamond brand from the De Beers Group, by launching the brand at their store in Mumbai. Forevermark di

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Birdhichand Ghanshyamdas Jaipur, leading Indian luxury jewellery brand in collaboration with the designer & social influencer, Pernia Qureshi hosted a private preview in New Delhi. &nb

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Signet, owner of Kay, Jared and Zales retail brands is closing down 150 stores, following the ceasement of stores in 262 locations. The aggresive downsizing is part of Signet's 3-year plan to reduce its retail footprint by 13 per cent. 
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ORRA, India’s foremost diamond jewellery brand, has launched its second store in Lucknow at Gomti Nagar, making it the 35th store for the retail brand in India. With its first Lucknow store in Hazratganj, ORRA is expanding its reach in the city
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ALROSA CEO Sergey Ivanov and Chairman of the Administrative Council of Endiama Jose Ganga Junior signed the document in the presence of President of the Russian Federation Vladimir Putin and President of the Republic of Angola João Louren&cced
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Waman Hari Pethe Jewellers, one of the most recognised names of the jewellery business in Mumbai since 1909, has partnered with Forevermark, the diamond brand from the De Beers Group, by launching the brand at their

 read more ...
 
As of July 1, the GIA will discontinue the GIA Synthetic Diamond Grading Report and introduce, instead, the GIA Laboratory-Grown Diamond Report. WFDB President Ernie Blom said he was pleased that although the reports will include the standard GIA col
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Tiffany & Co.’s latest Believe In Love campaign features the Tiffany True engagement ring, which includes an innovative white diamond cut. The film captures the intimacy between two people, and the Tiffany True engagem

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The joint collaboration by the Diamond Producers Association (DPA) and Signet Jewelers – the ASSURE Program – has published the results from the independent performance tests of Diamond Verification Instruments in the ASSURE Directory on
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The spring Magnificent Jewels and Jadeite auction will deliver a wealth of colour and design through rare gems and intricately crafted jewels.

Unique signed pieces by legendary maisons, such as an exquisite emerald and diamond necklace by
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The type II a flawless D colour diamond was christened 'Manami Star' by a Japanese private collector who won the bid for a whopping $13.7 million. 

"The diamond takes its place in the roster of top white diamonds to have come to the m
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ALROSA, the world’s leading diamond miner, held its first New York diamond auction this year. The company traditionally offered a range of special size diamonds (over 10.8 carats). The total revenue from the auction amounted to $11.8 million.
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Petra Diamonds Limited is pleased to confirm that it recovered a 425.10 carat D colour Type II gem quality diamond earlier today at its Cullinan Diamond Mine.

 

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Following the recent update to the Federal Trade Commission (FTC) Jewelry Guides, GIA has revised its education materials supporting its core consumer protection mission and updated its grading reports for laboratory-grown diamonds to align with the
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