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

Gold prices reach an all-time high on dovish Fed remarks, safe-haven buying

04 december 2023

On Friday, gold futures prices have reached an all-time high of $2095 an ounce during the U.S. trading session, and closed above $2070 an ounce.

The price increase is mainly attributed to the dovish stance of the U.S. Federal Reserve as well as safe haven buying amid concerns about the situation in the Middle East and elsewhere. The Fed's rate hikes may have concluded which is proving to be advantageous for the non-yielding gold, while its status as a safe haven asset means that the metal retains its value during geopolitical and economic turmoil.

Additionally, the uncertain strength of China’s economy and a gloomy global economic forecast are supporting gold’s status as a safe haven.

“Gold has had a Santa Claus rally and I expect that to continue until the end of this year. As we see inflation attenuate, it speeds up (the) timeline for policymakers to lower rates, which is good for gold,” said Everett Millman, chief market analyst at Gainesville Coins, in an interview with Reuters.

“Gold will pull back if there is a hawkish push back. But, it is certainly within the realm of possibility that gold re-tests record highs,” he added.

Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished