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The BRIC countries – Brazil, Russia, India and China – are the hotbed of growing diamond jewelry consumption. While the U.S. provides the slow, yet steady growth of a mature market, the BRICs are where the diamond industry has found large growth.
The recent slump in gold prices has not impacted the diamond market. Having enjoyed a stable and positive first quarter, diamond trading was steady this week while gold markets were in panic.
It is simple for John Q. Citizen of New York City to place money in an offshore account. Just how easy is it for him – and you – to open such an account?
The De Beers April sight ended last week with an estimated value of $650 million after the company raised prices by an average 3 percent.
Governments don’t like it when people and companies don’t pay their taxes. The main problem with this money, at least from the perspective of the tax evader, is that it needs to be hidden from authorities.
Let’s start with the bottom line – U.S. retailers need to pay more for the jewelry they are selling, and don’t get that much more when selling it.
In many respects, the contrast could not have been starker. Two vastly different diamond industry events took place this week, one in Dubai and the other in Ramat Gan, seemingly with different agendas and each reflecting different aspects of the trade.
Dubai is actively working to position itself to replace Antwerp as the rough diamond-trading center of the world.
There is an increasing unease in the diamond trade that the banks are reducing their exposure to the industry. For a trade so heavily reliant on credit, the concern is justified.
When talking about the future of the diamond industry, we are usually directed to expected growth in demand from China and India, as well as the continued leadership of the U.S.
India’s Gem and Jewellery Export Promotion Council (GJEPC) tends to set an ambitious agenda for itself. With around 5,300 members across India, the industry body is tasked with lobbying government, trade and consumers to ensure growth for the gems and jewelry sector.
The world is in constant flux, and nothing remains static. Diamond centers, just like other kinds of trade centers, are constantly shifting. Amsterdam long ago lost favor to Antwerp, which enjoyed the benefits of Belgium’s rule over Congo.
