Price of gold expected to stay high in 2020
Gold is predicted to average more than $1,500 an ounce in 2020, according to a recent Reuters poll, up from the $1,393 it averaged last year.
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Calls for 500,000 diamond Workers to walk out in Surat
More than 500,000 diamond workers are threatening strike action in Surat, India, to demand an end to “unfair” taxation.
Can the Indian diamond industry survive the current crisis?
The Indian diamond industry is facing an uncertain future with multiple challenges to tackle simultaneously. When diamond mining major De Beers reported the sale of $545 mln worth of rough diamonds in the first sales cycle of this year after a difficult 2019, it was an indication that the industry is on a recovery path.
De Beers reveals overhaul of sight system
De Beers plans to split sightholders into three categories and offer each group a more bespoke selection of rough diamonds as part of changes to its sales system.
Royal Asscher President retires
Edward Asscher has retired as president of Royal Asscher, marking his 50th anniversary with the family-run jeweler. His daughter, Lita Asscher and son, Mike Asscher, will take his place as copresidents of the company.
US retail to grow in 2020, NRF predicts
US retail sales will grow 3.5% to 4.1% this year, despite trade tensions and the spreading coronavirus epidemic, according to the National Retail Federation (NRF).
De Beers lets sightholders defer Chinese goods
De Beers has allowed clients to forgo buying certain rough diamonds at the week’s of 24 February sight, as the coronavirus outbreak has raised concerns about a polished glut.
ALROSA meets with clients ahead of March trading session
Press release – ALROSA met in Antwerp with its long-term clients and representatives of the Antwerp World Diamond Center (AWDC) to discuss the current market situation and potential scenarios, as well as the needs of rough diamond buyers – the key issue for whom was to receive assurances of purchasing flexibility.
Activist Livia Firth Documents ‘The Diamonds of Botswana’
One well-known sustainability champion recently visited the diamond communities in Botswana and documented her journey.
De Beers optimistic after 2019 earnings slump
De Beers gave a positive outlook for 2020 due to an improvement in the industry’s inventory situation, despite growing concerns about Chinese demand.
Polished diamond prices rise in January
Wholesale polished diamond prices rose in January in response to improved demand and lower wholesaler inventories. The rise in wholesale polished diamond prices started in December, as wholesalers witnessed a late rise in demand from US retailers.
De Beers CEO Bruce Cleaver talks sales, sights, and patent suits
De Beers chief executive officer Bruce Cleaver talked with JCK Thursday 20th of February, following the release of his company’s preliminary financial results for 2019. The results were, to no one’s surprise, not very good, with total revenue falling 24% and rough diamond sales falling 26%.
