RAPAPORT... De Beers has released its sales schedule for next year, with the miner holding its usual 10 sights across the 12-month period.The miner sells most of its rough to sightholders through a contract system under which clients make certain purchasing commitments in return for...
US consumers will purchase fewer gifts this holiday season as they contend with higher prices and weaker financial situations, according to a survey by Deloitte.Americans will buy an average of nine presents for their loved ones this year, compared to 16 items in 2021, as household incomes...
A rebel strike at a neighboring site has compelled Gemfields to pause operations at its Montepuez ruby mine in Mozambique.The Cabo Delgado insurgency, which has been ongoing since August, moved closer to the company’s site, following an attack Thursday on a deposit belonging to Gemrock,...
RAPAPORT... The American Gem Society (AGS) will close its laboratory operations at the end of this year and integrate them into the Gemological Institute of America (GIA).AGS Laboratories’ research staff, intellectual property (IP), technology and Las Vegas facility will become part of the...
RAPAPORT... India’s polished-diamond exports rose 12% year on year to $2.13 billion in September as a higher average price offset a drop in volume, according to recent data from the country’s Gem & Jewellery Export Promotion Council (GJEPC). Rough imports decreased during the month. This...
Shipments of Swiss watches rose 19% year on year in September, achieving one of the highest totals in history amid increased US demand.Total exports for the month came to CHF 2.24 billion ($2.23 billion), the Federation of the Swiss Watch Industry reported Thursday.Supply to the US, the...
Is the growth in lab-created diamonds being driven by consumer desire or the retail jeweler’s sales pitch? The question arose in a recent episode of the Rapaport Diamond Podcast, as well as in a webinar panel discussion Rapaport hosted earlier this year with lab-grown producers and...
RAPAPORT... Informa plans to bring its Jewelry & Gem World (JGW) trade show back to Hong Kong in September 2023, benefiting from a loosening of local coronavirus measures.The fair, previously one of the industry’s most important events of the year, has not taken place in its usual form...
News: Diamond market cautious ahead of Diwali festival. Indian manufacturers raising discounts to boost sales before the break, since factories close from Oct. 24. Dealers expect further price declines and lack urgency to buy. US bridal and high end lifting the industry as early holiday...
RAPAPORT... The American Gem Society (AGS) will close its laboratory operations at the end of this year, with the Gemological Institute of America (GIA) taking on elements of the organization.AGS Laboratories’ intellectual property (IP), technology, research staff and Las Vegas facility will...