IDEX Online - Rough Market

Rough Market

Firm has focused on training highly specialized local workers about planning, lasering, bruting, polishing, supervision and management.
Posted: April 19, 2018, 3:12 am
IIDGR says its AMS2, SYNTHdetect, DiamondView and DiamondSure can detect HPHT irradiated synthetic stones at room temperature.
Posted: April 19, 2018, 3:00 am
Decision is "a demonstration of the positive partnership which exists between Gem Diamonds and the government," says miner.
Posted: April 19, 2018, 2:28 am
'GemFair' aims to "create a secure and transparent route to market for ethically-sourced artisanal and small-scale mined (ASM) diamonds."
Posted: April 19, 2018, 12:06 am
Melee to be screened on-site by GIA staff independently operating analytical instrumentation in a dedicated, secured space.
Posted: April 18, 2018, 3:00 am
Hong Kong-based Diamond Services issuing a trade alert to the jewelry and gemstone trades.
Posted: April 18, 2018, 2:12 am
Opened in 2017, Super Specialty Kiran Hospital is not-for-profit and provides a full range of health and medical services.
Posted: April 18, 2018, 1:00 am
De Beers sells provisional $520 million of rough diamonds following confirmed sales of $564 million in the second sales cycle.
Posted: April 17, 2018, 2:20 am
The Israel Diamond Week was the third event to be hosted on the DDC’s new trading floor in the IGT building since its inaugural show in January.
Posted: April 17, 2018, 2:00 am
The official website of the 38th World Diamond Congress has gone live, allowing participants to register for the June 19-21 biennial meeting.
Posted: April 12, 2018, 5:00 am

IDEX Online - Polished Market

Polished Market

Firm has focused on training highly specialized local workers about planning, lasering, bruting, polishing, supervision and management.
Posted: April 19, 2018, 3:12 am
Jeweler Roberto Coin will present new collections and adorn special guest Elizabeth Hurley at CARAT+ next month.
Posted: April 19, 2018, 1:00 am
Melee to be screened on-site by GIA staff independently operating analytical instrumentation in a dedicated, secured space.
Posted: April 18, 2018, 3:00 am
Hong Kong-based Diamond Services issuing a trade alert to the jewelry and gemstone trades.
Posted: April 18, 2018, 2:12 am
Opened in 2017, Super Specialty Kiran Hospital is not-for-profit and provides a full range of health and medical services.
Posted: April 18, 2018, 1:00 am
Firms aim to "create operational efficiencies by tapping into each other’s vast processing and administrative infrastructure."
Posted: April 17, 2018, 2:52 am
De Beers sells provisional $520 million of rough diamonds following confirmed sales of $564 million in the second sales cycle.
Posted: April 17, 2018, 2:20 am
The Israel Diamond Week was the third event to be hosted on the DDC’s new trading floor in the IGT building since its inaugural show in January.
Posted: April 17, 2018, 2:00 am
The official website of the 38th World Diamond Congress has gone live, allowing participants to register for the June 19-21 biennial meeting.
Posted: April 12, 2018, 5:00 am
Cavalieri visited the Bahrain Institute for Pearls & Gemstones and discussed possibility of its hosting the CIBJO Congress in 2019.
Posted: April 12, 2018, 2:00 am

Rapaport - News

Sentiment mixed as April trading slows. Manufacturers concerned about tight profit after De Beers raised prices average 1% to 2% at $520M sight. Indian liquidity squeezed as banks reexamine diamond loans. Rough prices supported by limited 2Q availability. De Beers increasing supply to southern Africa beneficiation centers. Rising expectations for US demand ahead of Las Vegas shows. Chinese re...
Posted: April 18, 2018, 11:00 am
Fewer transactions as suppliers hold prices firm, despite liquidity concerns. Activity expected to rise during next week’s Bharat Diamond Week (April 23 to 25). Select demand from overseas buyers. Smaller manufacturers planning to close for school summer holidays. Good gold jewelry demand for Akshaya Tritiya festival on April 18. INDIA MARKET REPORT: ...
Posted: April 18, 2018, 10:58 am
Retail stocks had a mixed week, with J.C. Penney (-11%) and Birks Group (-17%) both losing value, while Michael Hill (-7%) fell after announcing plans to exit the US market. Signet Jewelers (+6%) showed a more positive trend, and Chow Tai Fook (+6%) kept Hong Kong stocks solid after reporting strong quarterly results. Rough producers Mountain Province (-3%), Firestone Diamonds (-4%) and Petra...
Posted: April 18, 2018, 10:57 am
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Posted: April 18, 2018, 6:36 am
RAPAPORT... Hong Kong-based jewelry retailer Chow Tai Fook saw a jump in quarterly sales amid stronger consumer sentiment and an increase in gold prices. Total retail sales leaped 13% in mainland China and grew 11% in Hong Kong and Macau in the fourth fiscal quarter ending March 31, the company reported Monday. Same-store sales — at branches open for two years — increased 7% on the mainla...
Posted: April 18, 2018, 5:02 am
RAPAPORT... The Gemological Institute of America (GIA) has launched a melee-screening center on the premises of diamond supplier Stuller, enabling the jeweler to verify the natural origin of its stones. The arrangement allows Stuller to sell its natural diamonds to retail clients with an accompanying GIA document stating that the goods are not synthetic or simulants. The GIA indep...
Posted: April 18, 2018, 4:30 am
RAPAPORT... Louis Vuitton has appointed Francesca Amfitheatrof artistic director of watches and jewelry, the luxury retailer said Monday.  Amfitheatrof (pictured) will be in charge of creating jewelry and high-jewelry collections, as well as overseeing all Louis Vuitton watch designs.   “It is with great excitement that I join Louis Vuitton, a house I feel deeply connect...
Posted: April 17, 2018, 9:21 am
RAPAPORT... The Diamond Producers Association (DPA) has appointed Grant Mobley to manage relationships with the US jewelry industry.  As head of US trade, a newly created position, Mobley (pictured) will oversee the DPA’s marketing program “Real is Rare. Real is a Diamond”. He will interact with retailers and others in the industry, updating them about the campaign and hearing th...
Posted: April 17, 2018, 8:00 am
RAPAPORT... Polished manufacturer Rosy Blue has agreed to acquire a minority share in Leo Schachter, as the diamond suppliers seek to make their operations more efficient. The deal will enable the firms to use each other’s infrastructure around the world, providing better value for their clients, Leo Schachter said in a statement Monday. Leo Schachter will still operate independently unde...
Posted: April 17, 2018, 4:43 am
RAPAPORT... De Beers’ April sight closed with a value of $520 million amid concerns among manufacturers that higher rough prices could affect profit margins. De Beers raised prices by 1% to 2% from the previous sale for larger size categories, sightholders told Rapaport News this week. In addition, De Beers adjusted the way it arranged stones into assortments that it sells, resulting in most...
Posted: April 17, 2018, 4:37 am
RAPAPORT... De Beers has terminated the sightholder status of Gitanjali Gems following fraud allegations against the Indian jeweler’s managing director, Mehul Choksi. De Beers took the decision in February, meaning Gitanjali can no longer make any purchases from the company, a spokesperson for the rough producer confirmed in a statement to Rapaport News Monday. “De Beers has introduced m...
Posted: April 16, 2018, 8:46 am
RAPAPORT... A new fund for diamond companies is set to launch, aiming to provide an easier way for firms to obtain credit. “The diamond industry is in a major state of flux, with all the major commercial banks exiting the space,” Chris Del Gatto (pictured), creator of the Delgatto Diamond Fund, told Rapaport News. “There is an unprecedented shortage of working capital among dealers, wholesa...
Posted: April 16, 2018, 8:43 am
RAPAPORT... Manufacturing Jewelers & Suppliers of America (MJSA) has appointed Joel McFadden director of its Council of Custom Jewelers. The New Jersey-based jeweler will be responsible for cultivating and developing group members’ expertise into articles, educational materials and promoted content.  “Joel is a passionate member of the jewelry-making community, and as someo...
Posted: April 16, 2018, 3:29 am
RAPAPORT... Bonhams’s spring jewelry sale in Hong Kong will spotlight a 4.01-carat Burmese “pigeon’s blood” ruby ring with diamonds, carrying an estimate of $445,000 to $635,000. Other notable pieces going under the hammer at the May auction include a ring featuring a step-cut, 8.88-carat Colombian emerald. The stone, which has not been treated with oil, has trillion-cut diamond should...
Posted: April 15, 2018, 11:01 am
RAPAPORT... A grading laboratory in China has discovered a synthetic diamond masquerading as a natural stone, complete with a forged inscription and a falsified report. The National Gemstone Testing Center (NGTC) in the city of Shenzhen received a round-brilliant, 3.1-carat diamond ring, which it subsequently graded as F or G color and VS clarity, it said last week. However, when gem...
Posted: April 15, 2018, 5:45 am
RAPAPORT... Lucara Diamond Corp. has recovered a 472-carat rough diamond, the third largest from its Karowe mine in Botswana. The stone is “top light brown,” meaning it has a relatively low color grade. “In 2018, mining at Karowe is focused in the high-value south lobe, which consistently delivers large, high-quality diamonds in excess of 10.8 carats in size,” CEO Eira Thomas said last...
Posted: April 15, 2018, 5:07 am
RAPAPORT... Michael Hill will close all its US stores by April 30 and pull out of the American market entirely, the company said. In January, the retailer announced it was looking for a buyer for the nine stores it operates in the US, noting the outlets were consistently losing money. However, the jeweler has not been able to find a purchaser, it said last week. The brand estimated the cos...
Posted: April 15, 2018, 4:34 am
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Posted: April 12, 2018, 11:22 am
Optimistic mood as trading resumes after spring break. Polished prices stable, with 1 ct. RAPI -0.1% in March. Chinese dealers buying stock ahead of potential yuan devaluation that may raise local prices if China-US trade war emerges. European high-end market mixed, with large luxury houses doing better than smaller niche players: LVMH 1Q jewelry & watch sales +9% to $1.2B; De Grisogono t...
Posted: April 12, 2018, 11:00 am
RAPAPORT... Christie’s Geneva spring sale will feature a 20.49-carat, fancy vivid-yellow diamond ring, estimated at between $3.9 million and $4.7 million (CHF 3.8 million to CHF 4.5 million), the auction house said Wednesday. Other notable lots are an 8.52-carat fancy intense purplish-pink diamond solitaire ring, estimated at $3.6 million to $5.2 million (CHF 3.5 million to CHF 5 mill...
Posted: April 12, 2018, 8:20 am
RAPAPORT... Stornoway Diamond Corporation saw rough prices rise in the first quarter, driven by a resurgent market and the sale of its most expensive stone to date. The miner achieved an average price of $112 per carat for the three months ending March 31, selling 399,135 carats for a total of $44.8 million (CAD 56.4 million). A 37-carat, type IIa, D-color, internally flawless rough stone...
Posted: April 12, 2018, 7:00 am
RAPAPORT... Canada-based jewelry retailer Birks Group has appointed Aurélie Pépion vice president of omni-channel sales and operations. Pépion (pictured) has more than 13 years of management experience with luxury brands. She was most recently the managing director, Canada, for Swarovski, responsible for retail and wholesale operations, marketing and merchandising. She has also w...
Posted: April 12, 2018, 6:56 am
RAPAPORT... The global diamond and jewelry industry may have felt nervous about the US proposal earlier this month to place $50 billion-worth of tariffs on Chinese goods. The response from the People’s Republic last week — threatening its own duty hike on imports from the US — raised the stakes higher still. However, diamond traders need not worry yet, senior figures in the secto...
Posted: April 12, 2018, 5:21 am
RAPAPORT... Swiss-based luxury jeweler De Grisogono plans to cut up to 41 positions after a challenging high-end market resulted in poor sales. “Despite considerable investments and all the efforts of employees, [sales of high jewelry] have not reached anticipated levels, due in part to challenging conditions in some key markets,” the company said in a statement Monday. “As a conseque...
Posted: April 11, 2018, 8:33 am
RAPAPORT...  De Beers has launched three new retail locations in Russia and Saudi Arabia for its De Beers Diamond Jewellers chain.  The company has opened one chain in Riyadh, its first Saudi Arabia location, at the Centria Mall, in partnership with Saudi Jawahir Trading Company. The jeweler has also inaugurated two new stores on Petrovka Street and in the Vremena Goda mall i...
Posted: April 11, 2018, 7:27 am
RAPAPORT... Alrosa’s sales leaped 20% year on year in the first quarter, as demand for medium-sized and large rough diamonds strengthened. Total sales for the three months ending March 31 rose to $1.61 billion, of which $1.58 billion was from rough sales and $23.7 million from polished. “In January to March, world markets saw higher demand for medium- and large-size rough diamonds com...
Posted: April 11, 2018, 5:57 am
RAPAPORT PRESS RELEASE, April 11, 2018, New York: Diamond prices stabilized in March, but sentiment softened after a positive start to the year. Dealers were disappointed with the Hong Kong diamond show, while a major bank fraud involving two Indian jewelry companies impacted confidence as well. The RapNet Diamond Index (RAPI™) for 1-carat diamonds slid 0.1% in March. RAPI for 0.30-carat stone...
Posted: April 11, 2018, 5:00 am
RAPAPORT... Belgium’s polished-diamond exports dropped in March, according to data from the Antwerp World Diamond Centre (AWDC). Polished exports decreased 7% year on year to $1.09 billion and, by volume, fell 13% to 423,764 carats. The average price grew 7% to $2,570 per carat. Polished shipments to Switzerland — which hosted the Baselworld show that month — slid 36% to $270.6 million...
Posted: April 10, 2018, 10:18 am
RAPAPORT... LVMH Moët Hennessy Louis Vuitton saw a rise in jewelry and watch sales in the first quarter amid strong market conditions, it said.  Revenue for the category increased 9% to $1.18 billion (EUR 959 million) in the three months ending March 31. “Organic” sales growth, which assumes a comparable structure and constant exchange rates, was 20%. The company noted a “buoyant e...
Posted: April 10, 2018, 8:54 am
RAPAPORT... Mountain Province will move forward with its acquisition of Kennady Diamonds, after both parties’ shareholders approved the deal at a special meeting. In January, Mountain Province announced its intention to repurchase the Kennady exploration project in Canada after a five-year separation. “The Kennady acquisition notably strengthens Mountain Province’s asset base,” M...
Posted: April 10, 2018, 8:24 am
RAPAPORT... Zimbabwe’s state diamond company is planning to introduce contract sales as part of a strategy to revive operations and bring greater transparency at the controversial Marange fields. The Zimbabwe Consolidated Diamond Company (ZCDC) resumed its tender sales in the first quarter of this year after suspending trading for nine months to get its house in order. While per...
Posted: April 10, 2018, 7:30 am
RAPAPORT... Titan Company expects to reap the benefits of increased regulation in the Indian jewelry market, the retailer said after reporting a jump in quarterly sales. Stricter credit conditions and a crackdown on illegal behavior — which have come under focus since the Nirav Modi fraud scandal emerged in January — will help jewelers that have better structures in place, it said. The na...
Posted: April 10, 2018, 6:57 am
RAPAPORT... Lucapa Diamond Company has raised $12.7 million (AUD 16.5 million) to proceed with an aggressive drilling and exploration program at its Brooking project in Western Australia. The funding — which came from a major new investor, as well as current shareholders — will go toward carrying out more exploration at the lamproite resource, the company said Monday. The asset has already...
Posted: April 10, 2018, 4:14 am
RAPAPORT... Initiatives in Art and Culture (IAC) will present its first Responsible Practice in Jewelry Leadership Award to Toby Pomeroy. The award recognizes a member of the jewelry industry who has made a significant contribution to ethical sourcing and responsible practices in the trade.  Pomeroy (pictured) is a designer and goldsmith, as well as the founder of an Oregon...
Posted: April 9, 2018, 7:07 am
RAPAPORT... Pangolin Diamonds has signed an agreement to acquire a mine in Botswana, the company said last week. Pangolin has bought a 51% stake in the AK10 diamond asset, located in the Orapa kimberlite field in the Central District. Under the terms of the contract, Pangolin has the option to increase its holding to a maximum of 75%. De Beers discovered the pipe in 1968. It is one of ...
Posted: April 9, 2018, 5:04 am
RAPAPORT... Sotheby’s will auction two flawless white diamonds weighing over 50 carats each, estimated at a combined price of more than $15 million. The first is a round brilliant-cut, 51.71-carat stone, estimated at $8.2 million to $9.5 million, while the second is an oval-shaped, 50.39-carat diamond, with an estimated price of $7.3 million to $8 million. Both stones are D color, flawless...
Posted: April 8, 2018, 9:25 am
RAPAPORT... Eli Avidar will step down as managing director of the Israel Diamond Exchange (IDE) to pursue a career in politics. The IDE chief chose not to continue in his position as head of the bourse, which he has held since January 2016, and will leave shortly, he told Rapaport News Sunday. He will also resign as managing director of the Israel Diamond Institute (IDI). The former diplom...
Posted: April 8, 2018, 8:34 am
RAPAPORT... Hong Kong’s polished-diamond imports jumped in 2017, recent data from the municipality’s trade body showed. Shipments into the center rose 9% to $18.93 billion in 2017, according to data from the Diamond Federation of Hong Kong, China. By volume, imports grew 3% to 19.5 million carats for the year, while the average price climbed 6% to $971 per carat. Polished imports from...
Posted: April 8, 2018, 4:17 am
RAPAPORT... A blue diamond ring and a jadeite bracelet both failed to find buyers at Sotheby’s Hong Kong sale. Most notable of the unsold lots from the April 3 auction was a 14.18-carat, fancy blue, VVS2-clarity diamond ring, surrounded by pink diamonds, which was estimated at $6 million to $7.7 million. A jadeite bangle — known as the “Circle of Heaven” — with an estimate of $10...
Posted: April 8, 2018, 4:09 am
RAPAPORT... Sales of jewelry and other luxury goods in Hong Kong grew in the first two months of the year amid stronger employment rates and increased tourism.  Sales of jewelry, watches, clocks and valuable gifts rose 21% to $2.05 billion (HKD 16.1 billion) in January and February, Hong Kong’s Census and Statistics Department reported Tuesday. It was one of the highest-grossing r...
Posted: April 4, 2018, 4:24 am