Twist in Pricing
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Saturday,August 29 2020 [ Issue 5 August/ 2020 ]
Twist in Pricing
The world’s leading diamond miners are joining forces to fight the skewed demand-supply ratios.

  Miners see demand resuming, as lockdown across the world is being lifted and people are resuming lives as per a New Normal. De Beers cut prices by almost 10 per cent for larger stones last week. Alrosa also lowered prices in the most recent sale. The company issued a single invoice total for each customer, meaning they won’t know which stones are discounted and by how much.

Both the miners were adopting a price over volume strategy, but an increase demand for rough diamonds will be there given cutters and polishers have hardly bought any stones since February. Though there is a slight recovery, all eyes are on how the U.S. will perform going forward.

 
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Highlights
Mrs. Rupa Dutta was working as an Economic advisor in the Department of Commerce, from April 2012 onwards, and was in charge of the gems and jewellery sector. Expressing his gratitude towards her, Colin Shah said, “A pr
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This was Christie’s first online-only auction dedicated to the world’s most sought-after gemstone—the diamond. The top lot of the sale was a spectacular jewel by Graff, suspending a 20.21 carat pear shaped y
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Smt. Nirmala Sitharaman, Hon’ble Minister of Finance, Govt of India last evening in a representation meeting held with The Gems and Jewellery Export Promotion Council of India (GJEPC), clarified that the e-trade of roug
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Everledger has partnered with JD.com, China’s largest online and offline retailer, with more than 380 million active users, and the Gemological Institute of America (GIA), the world’s foremost authority on certifi
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In FY 2019, India’s major export markets for cut & polished diamonds were USA ($6,960.09 million), Hong Kong ($6,381.97 million), Middle East ($2113.63 million), Europe ($1,534.50 million). Although the year 2020 is
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The meeting was chaired by Smt.Simmi Jain, Additional Director General, National Academy of Customs, Indirect Taxes and Narcotics (NACIN), Jaipur Office, through a video conference. The Commissioner of Customs, Jaipur, Shri.
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GIA (Gemological Institute of America) is offering $1 million in scholarships for aspiring gem and jewelry students and professionals looking to advance their careers with education from GIA in courses related to gemology and
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De Beers Group announced that Céline Assimon will succeed François Delage as Chief Executive Officer of De Beers Jewellers. After a decade at the helm of De Beers Jewellers, François will step down as CEO
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Gem Diamonds Ltd.saidFriday it had an unearthed a 442-carat diamond at its Letseng mine in Lesotho. While it’s hard to establish a price for such stones before cutters can evaluate them, it could sell for as much as $18
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