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

Eduard Gorodetsky: Currently we see high demand for synthetic diamonds for use in technology segment rather than in jewelry

Director General of the Advanced Synthetic Research Center Eduard Gorodetsky told Rough&Polished about the current situation at the company, new exclusive technologies in the synthesis and production of lab-grown crystals, as well as the Research Center’s...

11 march 2024

Supply shortage to persist on silver market throughout 2023 - experts

24 november 2023

The shortage of metal will continue throughout 2023, according to a forecast made by the independent precious metals research and consultancy Metals Focus.

Silver market has remained in deficit for the past 5 years. The record level of metal shortage was in 2022 when it amounted to 253 million ounces.

According to Metals Focus, when compared to the record figure of the last year, in 2023 the supply deficit will decrease almost twofold, to 140 million ounces.

It is worth noting that earlier experts expected a reduction in the deficit of silver to 119 million ounces, as well as a drop in demand by 7%. However, in its latest market review Metals Focus estimates a 10 percent reduction in demand, to 1,143 billion ounces by the end of this year.

In addition, experts predict a 2% drop in the supply of silver: in 2023, it will amount to 1,002 billion ounces. In its previous review, the company expected an increase of silver supply to a record 1.055 billion ounces, dprom.online reports.

Alex Shishlo for Rough&Polished