(IDEX Online) - The IDEX Polished Price Index was up 1.37 per cent in May, an increase almost double that of April (0.73 per cent). The rise was pretty steady day on day, with the Index averaging 124.970 across the month and closing at 125.900.The Index is currently the highest it's been since November 2018. It has been climbing, albeit with some volatility, sinc...Read More
(IDEX Online) - India's diamond exports are set to exceed $20bn this financial year - an increase of 20 per cent.That's according to an analysis of 70 diamantaires rated by CRISIL, the Mumbai-based Crisil ratings agency.In recent months pent-up demand and stimuli buoyed demand for diamonds and jewelry in the US and China, it says, which account for 75 percent of India's polished dia...Read More
(IDEX Online) - Banks that lost money in a $770m gold and diamonds loan scam in India in 2013 have won a legal victory in their bid to trace the missing cash.A British judge yesterday restored four UK shell companies suspected of having laundered money lent to Indian-based Winsome Diamonds.The move may enable Standard Chartered Bank and other lenders to trace the assets of an Indian gold and diamo...Read More
RAPAPORT... India is experiencing a shortage of diamonds as rough supply has dropped and polished goods remain stuck at the Gemological Institute of America (GIA).Traders are struggling to source rough, and face rising prices when buying from miners and at tenders, Indian manufacturers told Rapaport News this week. This has made it hard to meet strong demand from the US and China."[Buying] ro...Read More
(IDEX Online) - Hundreds of traders crowded the Israel Diamond Exchange (IDE) for the first Blue and White fair since lockdown restrictions were imposed more than a year ago.Among the 50 industry leaders exhibiting on the trading hall at Ramat Gan were Tache, Lili Diamonds, S. Schnitzer and Andre Messika.Almost all coronavirus restrictions have now been lifted in Israel after a vaccination program...Read More
RAPAPORT... The trade group that supports India's domestic jewelry industry has asked the government and the central bank for urgent help amid the "major financial stress" resulting from the Covid-19 crisis.Companies in the sector have been forced to close and have lost out on revenue during the country's latest coronavirus wave, the All India Gem and Jewellery Domestic Council (GJC) stressed...Read More
RAPAPORT... The trade group that supports India's domestic jewelry industry has asked the government and the central bank for urgent help amid the "major financial stress" resulting from the Covid-19 crisis.Companies in the sector have been forced to close and have lost out on revenue during the country's latest coronavirus wave, the All India Gem and Jewellery Domestic Council (GJC) stressed...Read More
RAPAPORT... Hong Kong-based retail sales of jewelry and other hard-luxury items were far below pre-pandemic levels in April as tourism remained stagnant.Revenue from jewelry, watches, clocks and other valuable gifts came to HKD 2.63 billion ($338.6 million) for the month, well short of April 2019's total of HKD 5.86 billion ($747.8 million), the municipality's Census and Statistics department repo...Read More
(IDEX Online) - Antwerp's polished import and export figures for April are well up on a year ago - during the depths of the pandemic - but are still significantly lower than the same month in pre-pandemic 2019.The value of rough exports soared by almost 25 times in April, compared with a year ago, when Covid brought the diamond industry to a near-standstill.Polished exports increased more tha...Read More
(IDEX Online) - Fifteen workers have died so far this year and more have been injured in accidents mining for gold and other precious metals in Zimbabwe, says a union boss.Justice Chinhema, general secretary of Zimbabwe Diamond and Allied Minerals Workers Union (ZDAMWU) says many mines are increasingly unsafe. Ten fatalities were at small scale mines, he said. Five were at larger operations."...Read More
(IDEX Online) - Customs officials in Surat, India, seized two consignments of loose "lab grown" diamonds that were over the declared weight - and were actually higher-value natural gems.They were being sent from the tax-free Surat Special Economic Zone and were destined for Hong Kong, via Mumbai airport.The owner of Universal Diamonds, Meet Kachhadiya, wrongly declared the diamonds, said the Direc...Read More
(IDEX Online) - There was a slight overall increase in round prices among rounds. Fancies were more of a mix, and a number of sizes in both rounds and fancies saw little or no movement at all. There were a couple of localized bursts of activity, with a raft of price rises among 0.3-0.39-cts and 2.00-2.99-cts. Aside from that there was little or no movement in many sizes. There was virtually...Read More
RAPAPORT... Regional health authorities for Canada's Northwest Territories have declared a coronavirus outbreak at the Ekati mine, sending operations temporarily into flux.The Office of the Chief Public Health Officer (OCPHO) recommended workers at the mine enter quarantine after three positive cases were identified following regular testing, it said Monday. Regularly scheduled flights to the...Read More
RAPAPORT PRESS RELEASE, June 1, 2021, Las Vegas... Diamond market sentiment was positive during May as the US and China saw upbeat jewelry sales. Supply shortages and a swift recovery in demand supported polished prices. The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds rose 0.8% in May. RapNet Diamond Index (RAPI?,,?) Read More
RAPAPORT... Swiss watch exports exceeded pre-pandemic levels in April as demand in the US strengthened and China continued to see growth in domestic purchasing.Global shipments were 2% higher than in the same month of 2019, amounting to CHF 1.79 billion ($1.99 billion), the Federation of the Swiss Watch Industry said last week. The organization used 2019 rather than last year as a base because of...Read More
(IDEX Online) - A London jeweler has launched a tiara-for-hire service, as brides take their inspiration from TV period dramas.Hancocks, founded in 1849 and located in Mayfair, is making its collection of vintage and antique treasures available for the big day.It charges one per cent of their value for a 24-hour loan, which works out at a little over $1,300 for one of the highlights of its collect...Read More
RAPAPORT... Industry veteran Thomas Gelb has joined the Fancy Color Research Foundation (FCRF) as a member of its board of advisers.Gelb previously worked at the Gemological Institute of America (GIA) before leaving in 2008 to run Harry Winston's grading department, FCRF said Monday. For the past 12 years, Gelb has been an independent consultant, working with various companies, gem labs and trade...Read More
RAPAPORT... Revenue at Mumbai-based diamond and jewelry manufacturer Asian Star fell in the past fiscal year as Covid-19 lockdowns and restrictions hindered sales.Group revenue - including at subsidiaries - slid 16% to INR 25.62 billion ($353.1 million) for the year ending March 31, the company said earlier this month. Diamond sales plunged 66% to INR 21.44 billion ($295.5 million), while revenue...Read More
(IDEX Online) - Diamonds seized from illegal miners in Lesotho are to be sold to licensed dealers by the country's mining ministry.Small-scale diamond mining was outlawed in 2004 because of safety concerns and a lack of regulation, although there are reports that the government is now about to permit the resumption of limited artisanal operations.Bids are being invited during a two-day tender...Read More
(IDEX Online) - De Beers has partnered with Disney for the first time, providing high jewelry for the new movie Cruella.British actress Emma Thompson (pictured) wears pieces from the Arpeggia collection as she plays the fashion designer Baroness Von Hellman in a new take on the classic 101 Dalmatians, set in 1970s London.They include a five-line necklace and three-line earrings in white gold and t...Read More