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Gem Diamonds nets $8.8 million for 13.3 carat pink rock

Author: Cecilia Jamasmie - Published 15-03-2019 21:38 - (0 Reads)
Africa-focused Gem Diamonds (LON:GEMD) has sold a 13.33 carat pink diamond recovered at its flagship Letšeng mine in Lesotho last month for $8.8 million.

Leading diamond supplier on the brink of bankruptcy

Author: Ajit Joshi - Published 15-03-2019 21:34 - (0 Reads)
Antwerp-based Eurostar Diamond Traders, one of the largest Traders, one of the largest diamond polishing companies..

Gold prices are expected to trade lower today: Angel Commodities

Author: unknown - Published 15-03-2019 21:31 - (0 Reads)
On Thursday, spot gold declined by 0.99 to close at $1296.0 per ounce whereas Gold on the MCX declined sharply by 1.24 percetn to close at Rs.31808 per 10gms. Dollar gained in yesterday’s trading session as fears of no deal Brexit eased off ahead of a vote to extend the deadline for Britain's exit from the European Union which is scheduled at the end of this month. Trade tension between US & China added the trouble as US President Donald Trump emphasized that he was in no rush to secure a deal with China which raised fresh concerns over possibility of a trade deal between the biggest economies of the world. The officials of both the countries will meet again next month.

GJEPC Artisan Awards celebrate best design talent from Indian gems & jewellery industry

Author: unknown - Published 15-03-2019 20:29 - (0 Reads)
It was a night to remember as the stars of designer jewellery came together at the Royal Opera House in south Mumbai recently. Following the theme of ‘Enchanted Cosmos’, The Gem & Jewellery Export Promotion Council (GJEPC) held the Artisan Jewellery Design Awards 2019 powered by GIA (Gemological Institute of America) and co-partnered by the DPA (Diamond Producers Association).

India: Slow Demand for Smaller Goods

Author: unknown - Published 14-03-2019 21:41 - (0 Reads)
Sentiment cautious, with selective interest in smaller sizes. Surplus of +11 goods has placed pressure on prices. Firms trading rough rather than manufacturing, creating shortages in certain melee categories. Slow demand for diamonds under 0.50 carats, but better sales of round, 1 ct. stones. Dealers seeing stronger orders from US than China, with certified goods easier to sell than uncertified. Liquidity low for manufacturers and traders as Mar. 31 financial year-end approaches.

Global diamond miners to cut production by a third

Author: Rajesh Bhayani - Published 14-03-2019 21:39 - (0 Reads)
A body representing eight leading global diamond mining companies has warned against excessive mining of the gem, saying this has led to a drop in the prices of the precious stone. It also said that the current scenario in India is not rosy.

Rapaport Weekly Market Comment

Author: unknown - Published 14-03-2019 21:06 - (0 Reads)
Market sentiment weak, with select categories seeing demand. Diamonds between 0.70 ct. and 1.99 ct. moving well, but large stones slow. Sluggish demand for goods under 0.50 ct., with manufacturers reducing production of that size. Rough market subdued. Alrosa Jan.-Feb. sales -40% to $627M. Belgium Feb. rough imports -28% to $621M, polished exports -3% to $1.2B. Gem Diamonds 2018 revenue +25% to $267M, profit +171% to $47M after record production of exceptional stones. Eurostar Diamond Traders close to bankruptcy amid $500M debts. Signet appoints Jamie Singleton president of merged Kay, Zales and Peoples leadership team.

GJEPC Inaugurates $2B Jewelry Complex

Author: unknown - Published 11-03-2019 21:33 - (0 Reads)
The Gem & Jewellery Export Promotion Council (GJEPC) has begun building a 21-acre industrial jewelry park it believes will generate nearly $6 billion in annual revenue.

Gold Prices Rise On Renewed Demand: 10 Things To Know

Author: unknown - Published 08-03-2019 13:05 - (0 Reads)
Snapping its downward trend, gold prices witnessed a rise of Rs. 200 to Rs. 33,270 per 10 grams at the bullion market on Friday in the national capital, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. Fresh buying from jewellers amid firm trend overseas led to the strengthening of the yellow metal, traders were quoted as saying in the PTI report. In the previous six sessions, gold rates had declined by a total of Rs. 1,130.
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