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 youth favour gold as safe-haven investment, shun diamonds

23 january 2024

In China, domestic gold prices reached new highs last year, with the retail market witnessing a gold rush, particularly in lower-tier cities and less affluent counties. Gold is seen to offer stronger wealth preservation characteristics during an economic downturn, with demand set to rise ahead of the Lunar New Year.

While the iconic tagline once made the diamond ring an indispensable symbol of matrimony worldwide, young people in China are no longer subscribing to the theory that it is forever.

In China today, many identify with Huang’s consumption mentality, with domestic gold prices reaching new highs last year, and the retail market witnessing a gold rush. Consumers have turned to gold as a safe-haven investment, even though purchasing bars or jewellery at retail outlets would incur extra processing fees.

According to the National Bureau of Statistics, from January to November last year, retail sales of gold and silver jewellery increased by 11.9 per cent, year on year, surpassing overall retail sales of consumer goods, which grew by just 7.2 per cent.

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