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

Jewellery recycling in India to touch 150 tn as gold prices soar

12 december 2023

Gold prices in India have jumped to an intense volatility on the back of firm trend in the global markets on the expectations of US Fed cutting lending rates sooner than expected. 

The soaring gold prices have depressed jewellery demand, though exchange of old jewellery for new jewellery and cash has picked up sharply in Mumbai, one of the oldest jewellery markets and a major hub for B2B and B2C jewellery industry.

Kumar Jain from India Bullion and Jewellers Association said that there has been a big rush in almost all the jewellery shops in Zaveri Bazaar in Mumbai in the last two months as consumers are taking advantage of high gold price and exchanging it for new designs by adding little more money from their savings. Most of the consumers are buying jewellery for forthcoming weddings in the family or gift it to their close friends and relatives in a wedding, he added.

According to the Confederation of All India Traders’ estimates, about 3.5 million weddings are to be solemnised till December-end and generate an estimated business of $51 billion this wedding season.

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