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

China’s net gold imports up 51.4 % in August month-on-month

28 september 2023

China's net gold imports stood at 39.023 metric tons in August, up 51.4 per cent from the previous month, Hong Kong Census and Statistics Department data showed. That was still below the 68.227 tons reported a year earlier.

Total gold imports via Hong Kong were up 49.6 per cent on a monthly basis at 45.237 tons, but lower than 71.855 tons in August 2022. China also saw higher gold shipments from Switzerland in August, data showed last week.

Official data showed that the People’s Bank of China extended its streak of central bank gold purchases to a tenth straight month at end-August.

Concerns from onshore financial markets and the need to hedge against yuan depreciation could have supported demand for precious metals. Retail demand for jewellery and bullion surged in August to reach the highest monthly level since March.

Physical gold prices in China were quoted between $20 and $60 an ounce over global prices in August before premiums surged to record highs of around $135 earlier this month.

While the rise had more to do with a supply squeeze caused by the government’s import restrictions, strong physical buying should keep the premium high into the fourth quarter. Imports are expected to pick up from next month.

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