News
Botswana, De Beers suitor near deal on ownership stakes – report
Botswana and a consortium leading the race to acquire De Beers are close to agreeing on their future ownership stakes, potentially clearing the way for Anglo American to exit the diamond miner, according to Bloomberg.
Today
Petra Diamonds subsidiary ordered to wind up over unpaid tax
Petra Diamonds has confirmed that a winding-up order has been made against its wholly owned indirect subsidiary, Petra Diamonds UK Treasury Limited (PDUK Treasury), following a petition by HM Revenue & Customs.
Today
LVMH’s watches & jewellery division revenue rose 8% in the first nine months of 2026
The Watches & Jewellery division of the French conglomerate LVMH, home to over 75 world-renowned luxury brands, recorded an 8% organic revenue growth during the first nine months of 2026 thanks to strong jewellery demand, despite a challenging economic...
Today
Russian companies to increase investment in PGM exploration by 17% in 2026
In 2026, Russian companies will increase their investment in the exploration of platinum group metals (PGM) by 17%, with the total reaching nearly 2 billion rubles ($23 million), the Russian Ministry of Natural Resources and Environment...
Today
Diamond jewellery sales in India set to increase 15% - 20% on sharp rise in gold prices
Indian diamond jewellery retailers anticipate a 15% - 20% increase in sales during the 2026 festive season, driven primarily by the sharp rise in gold prices which prompts consumers to consider diamond jewellery in more affordable price range...
Yesterday
In-store shopping in U.S., Canada at almost half of 2019 levels
10 july 2020
(bnnbloomberg.ca) - Shopper visits to stores in the U.S. and Canada are at about half of last year’s levels as businesses reopen after more than two months on lockdown. Foot traffic at North American retailers has risen for nine straight weeks as growing numbers of stores restart operations. Consumers’ return accelerated in the week ended June 19, though visits are still down about 52 per cent compared to the year prior, according to location-data provider Prodco Analytics.
The Rush for the Holy Grail: Cash Flow
09 july 2020
(edahngolan.com) - The desire to generate cash flow, accompanied by pressures to do so quickly, led traders to decrease prices, as the following diamond price chart shows. Month over month, polished diamond prices declined an estimated 3.3% in May. This is the deepest wholesale diamond price drop since mid-2015. According to our polished diamond price list, month-over-month declines took place across the board. Prices declined in every single key category, with one-third carats once again suffering the deepest declines.
The sharp decline in prices, shouldn’t come as a surprise. Many traders in the diamond market are aching to generate cash flow. Buyers in the jewelry industry can smell it, and are succeeding in squeezing out much better prices than before.
Comment: Why gold is shining again during the pandemic
08 july 2020
(internationalinvestment.net) - As the yellow metal helped to steady Sharpe ratios for hedge funds and real money alike, all those investment dollars pouring into gold from asset managers and private banks have in turn changed the shape of the metal's own global market.
Most notably, this has revived London's dominance over New York as a trading venue for precious metals, thanks to lockdown highlighting a location risk no one thought would matter before.
This Is How COVID-19 Impacted Jewelry Sales
07 july 2020
(edahngolan.com) - COVID-19 hit the world like a wild and destructive storm, harming lives and assets as it spread. The diamond and jewelry industry was not spared, and sales dropped significantly – how significantly was anyone’s guess until now. Following are the figures showing just how COVID-19 impacted sales, and how the tide is perhaps starting to turn.
Buyers Snub De Beers and Alrosa over High Prices
06 july 2020
(diamonds.net) - De Beers and Alrosa continued to see rock-bottom sales in June as buyers rejected the miners’ high rough prices in favor of cheaper goods from smaller suppliers. “[The major miners] want to hold on to prices, so people don’t see any [incentive] to buy because it’s difficult to sell and make money,” a sightholder told Rapaport News. “[Manufacturers and dealers] are already sitting on large inventories of polished and rough.” The two largest producers have maintained their prices at pre-coronavirus levels, while other miners holding tenders in Antwerp have sold at prices 15% to 25% lower than in February, an Alrosa client observed. Even the smaller producers’ prices were inflated, he explained, as they were serving customers seeking specific items in small quantities.
