Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Commerzbank: Weak Gold demand in China and India due to high prices

20 july 2023

Economists at Commerzbank analyze gold demand in China and India, the two largest gold consumer countries. They found that gold imports in both countries may dwindle in the coming months due to higher prices.

While gold is expected to remain stuck at current prices for the next three months, the German bank looks for the precious metal to end the year on a strong note. Commerzbank's analyst said that the July Fed rate hike is likely to be the central bank's last of this tightening cycle. This may lead to prices pushing back to $2,000 an ounce by the end of the year.

The premium on the global market price reached $19 per troy ounce on 14 July, bringing it closer to the six-year high of over $25 per troy ounce that it chalked up in September 2022. This could further slow gold demand in China, which is weaker in the summer months in any case.

China and India combined account for roughly half of physical Gold demand. The behaviour of gold buyers there, which tends to be anticyclical with respect to the price, thus has more of a stabilising than an amplifying effect on prices.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished