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.


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

Asia Gold: New Year cheer ups China demand, India awaits budget

29 january 2024

China’s physical gold premiums climbed this week as additional stimulus measures aided sentiment days before Lunar New Year celebrations begin in the top buyer. Meanwhile, Indian retail consumers and jewellers showed limited interest ahead of the Union Budget on Feb 1, 2024.

People’s Bank of China, on 24 January, announced a deep cut to bank reserves to spur economic growth.

Premiums surged, suggesting investors are anticipating further market rescue measures and potential buying sprees ahead of the upcoming Lunar New Year holiday. Chinese dealers quoted premiums of $46-$57 per ounce over spot prices, up from last week’s $42-$54.2 range.

In India, dealers were offering a discount of up to $9 an ounce over official domestic prices — inclusive of the 15% import and 3% sales levies, unchanged from last week as buyers remained on sidelines ahead of the Budget. “Like every year, this year as well, jewellers have taken a pause anticipating a cut in the import duty. They will resume buying after the budget,” according to a Mumbai-based bullion dealer.

In Japan, dealers sold gold at par to $1 premiums.

“Market expects the end of Bank of Japan’s zero rate policy to come in next March-April. That might influence investors to invest in other market products instead of gold,” said a Tokyo-based trader.

Hong Kong dealers charged premiums of $0.5 to $3.50, while gold was sold between at-par prices and $3 premiums in Singapore.

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