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GIA decides to shut down Dubai operations to use its resources effectively to fulfill its mission of protecting consumers

Author: unknown - Published 06-12-2019 12:13
After ten years of operating in Dubai, a city that is known for its love for diamonds and jewellery, the Gemological Institute of America (GIA) has decided to wind up its operations. After continuously evaluating all of their global education and laboratory services, GIA has decided to this in coordination with the GIA Board of Governors to ensure that they use their resources as effectively as possible to fulfil their consumer protection missio

Chinese firm can’t sell products under Indian jewellery brand name

Author: K A Y Dodhiya - Published 06-12-2019 12:11
In a relief to famous jewellery brand ORRA, the Bombay high court (HC) through a temporary injunction, restrained a Chinese company and its agent in India from selling jewellery under the litigant’s brand name.

Gold prices today fall for third day in a row, silver rates decline

Author: Surajit Dasgupta - Published 06-12-2019 12:08
Gold prices in India today fell for the third day, tracking muted global cues. On MCX, prices of gold futures for February delivery were down 0.11% to ₹38,045 per 10 gram. After the three-day decline, gold rates are now down about ₹2,000 per 10 gram from the September highs of about ₹40,000 per 10 gram. Tracking gold, silver prices also edged lower today. On MCX, silver futures were down 0.20% to ₹44,524 per kg.

Rapaport Weekly Market Comment

Author: unknown - Published 05-12-2019 12:10
Jewelers and memo dealers gaining confidence after positive start to holiday season. E-commerce driving growth, with record $9.4B purchases on Cyber Monday, according to Adobe Analytics. NRF counts 189.6M shoppers and average spend +16% to $362 over Thanksgiving weekend. Tiffany & Co. 3Q sales flat at $1B, Signet Jewelers sales flat at $1.2B. Shortages and holiday demand supporting diamond prices, especially for diamonds below 1 ct. RAPI for 0.30 ct. +5.3% in Nov., 1 ct. -0.5%. Rough market improving with demand for RapSpec A3+ polished. De Beers returns to regular sales policy at next week’s sight, ending flexibility that allowed higher buybacks or deferrals

Lab Warns of Color Instability in CVD

Author: unknown - Published 04-12-2019 12:12
Synthetic diamonds grown using chemical vapor deposition (CVD) could change color for an extended period following exposure to certain light forms, Gemological Science International (GSI) has warned.

Diamond industry preps for a rough, rocky 2020

Author: unknown - Published 03-12-2019 12:16
The crisis afflicting the diamond industry won’t end anytime soon, according to Liberum Capital Markets.
There has been little good news this year. An oversupply of rough diamonds, a surfeit of polished stone stocks and falling prices have piled pressure on both the companies that dig them up and the lesser known businesses that cut, polish and trade them.

Pramod Kumar Agrawal elected as first-ever Indian Vice President of CIBJO, the World Jewellery Confederation

Author: unknown - Published 29-11-2019 21:04
Pramod Kumar Agrawal, current Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), has become the first member of the Indian industry to be elected one of the three Vice Presidents of CIBJO, the World Jewellery Confederation. He was nominated by CIBJO President Gaetano Cavalieri, and the decision was confirmed by the organisation’s General Assembly and Board of Directors, meeting in Bahrain, November 18-20, at the 2019 CIBJO Congress.

Surat’s diamond industry finds new market in Uzbekistan

Author: unknown - Published 29-11-2019 11:32
Chief minister Vijay Rupani’s recent visit to Uzbekistan for increasing bilateral trade with Gujarat seems to have paid dividends for Surat’s diamond cutting and polishing sector, which is largest in the world.

Rapaport Weekly Market Comment

Author: unknown - Published 28-11-2019 21:11
Positive sentiment as US jewelers complete holiday orders. Optimistic outlook for season as stock market rallies despite Trump impeachment trial and trade war. LVMH $16.2B Tiffany buyout demonstrates confidence in luxury jewelry sector. Macy’s and J.C. Penney highlight strong 3Q jewelry performance. Retailers taking more on memo, presenting good opportunity for New York dealer market. Manufacturers raising production after Diwali break amid shortages of better-quality RapSpec A3+ diamonds. Christie’s Hong Kong sells $50.6M, including important jadeite necklace for $9.4M. The Rapaport Group wishes all our friends a happy Thanksgiving and a successful holiday season.
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