RAPAPORT... Two trade organizations have become affiliate members of the Watch & Jewellery Initiative 2030 (WJI), a sustainability program launched by luxury brands.The World Jewellery Confederation (CIBJO) and France's Union Fran??aise de la Bijouterie, Joaillerie, Orf??vrerie, des Pierres et des Perles (UFBJOP) have also entered into a strategic collaboration with the WJI, the group ann...Read More
RAPAPORT... Sales of platinum jewelry in the US rose by a quarter in the three months ending June 30 as the sector weathered geopolitical and economic difficulties, according to an industry organization's estimates."Global supply-chain issues, the Russia-Ukraine war and sanctions on Russian companies all caused challenges for the jewelry business in the US," Platinum Guild International (PGI)...Read More
(IDEX Online) - The death of Queen Elizabeth II has reignited the debate over the future of the iconic 105.6-ct Koh-i-Noor diamond.The centerpiece of her crown, a Type IIa D-color gem said to be the world's most valuable diamond, will reportedly be worn by Queen Camilla, wife of the new King Charles III, at his coronation.But several countries - among them India, Pakistan, Iran, and Afghanist...Read More
(IDEX Online) - A parcel of "natural" sapphires submitted for grading included a 48.63-ct piece of glass and two lab grown stones.The Gemological Institute of America (GIA) described the selling of simulants and synthetics mixed with natural stones as "an old form of deception".It usually happens close to mines, where inexperienced buyers assume the gemstones come directly from the source???,?"and...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 30 points in pre-opening trade.The Canadian Dollar dropped 0.15 to US76.70 cents following release of Canada's August Employment report at 8:30 AM EDT. Consensus was an increase of 15,000 jobs versus a decline of 30,600 in July. Actual was a drop of 39,700. Consensus for the August Unemployment Rate was an increase to...Read More
News: US market optimistic as holiday season approaches. Sales not expected to match 2021, but jewelers seeing steady interest as consumer confidence improves. Memo houses selling well. Luxury jewelry doing better than commercial qualities. International dealers and manufacturers cautious. China weak amid new Covid-19 restrictions. Ongoing quarantine for travelers is limiting Far East trade. Poli...Read More
RAPAPORT... The Natural Diamond Council (NDC) has launched a new advertising campaign ahead of the holidays, signing up British actress Lily James as its global ambassador.Under a cloud of funding problems, the industry-wide marketing group has secured James for an initial two-year contract with possible extensions, NDC CEO David Kellie told Rapaport News Wednesday. She is the star of a 45-se...Read More
RAPAPORT... Diamcor Mining garnered $1.6 million from its most recent tender as the average price rose amid the sale of large stones.The company sold 1,837 carats of rough from its Krone-Endora at Venetia deposit in South Africa at an average price of $883 per carat, it said Wednesday. The sale included a 59.35-carat, high-quality diamond. With the exception of that stone, the tender generated $42...Read More
RAPAPORT... Burgundy Diamond Mines has recovered a 1.51-carat, fancy-yellow diamond at its Ellendale Project, the first since it restarted operations at the Australian site.Burgundy discovered the stone at the Blina mine, which lies adjacent to Ellendale and forms part of the joint project, it said Thursday. The find came as the miner reached the final stages of commissioning the deposit. It has n...Read More
(IDEX Online ) - An 11.15-ct pink diamond described as "rare masterpiece of nature" is to be sold in a single-lot auction in Hong Kong with a $21m estimate.The cushion cut Williamson Pink Star (pictured), named after the Petra mine in Tanzania, is the second largest internally flawless fancy vivid pink diamond to ever appear at auction.It was sold last December as a 32.32 carat pink rough gem for...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.Equity index futures were unchanged after the European Central Bank raised its lending rate to major banks by 0.75% to 1.25%.Game Stop advanced $2.51 to $25.55 after reporting a smaller than expected quarterly loss. Wedbush lowered its target price from $7.50 to $6.00.American Eagle Outfitter...Read More
RAPAPORT... Israel's diamond trade slowed in August as the Ukraine crisis reduced access to rough and global market sentiment weakened.Polished exports dropped 21% year on year to $271.9 million for the month, with volume down 19% at 121,256 carats, the country's Ministry of Economy and Industry reported Monday. Polished imports slid 30% to $178.7 million. Rough exports rose 27% to $141.6 mil...Read More
RAPAPORT... Matt Stuller, founder and chairman of jewelry manufacturer Stuller, is upbeat about the market ahead of the holiday season despite the cautious economic environment. Full-year jewelry sales across the US retail sector should be just about in line with 2021, "which would be great considering how strong last year was," Stuller said on the Rapaport Diamond Podcast. In a conversation...Read More
(IDEX Online) - A huge 151.60-carat yellow diamond from the Gahcho Ku?? (C) mine, in Canada, is to be sold.The rough gem (pictured), described as an "octahedron of exceptional clarity," was recovered by Mountain Province Diamonds.It will be offered for sale by Bonas-Couzyn, in Anwerp, together with over 90 specials, the largest single collection the miner has offered since it started production in...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade.Index futures were virtually unchanged following release of the July U.S. Trade Report at 8:30 AM EDT. Consensus was a deficit of $70.5 billion versus a deficit of $79.60 billion in June. Actual was a deficit of $70.6 billion.The Canadian Dollar was virtually unchanged at U.S.75.82 cents...Read More
RAPAPORT PRESS RELEASE, September 6, 2022, Las Vegas... Diamond prices declined in August, reflecting caution in the trading centers and weakness in China. The US is supporting the market with solid demand from retail programs and steady memo calls from independent jewelers. The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds fell 3.6% in August. It was up 0.8% from the beginning of the year...Read More
RAPAPORT... De Beers has temporarily stopped work at the Gahcho Ku?(C) mine in Canada following the death of an employee at the site."We are deeply saddened to confirm that an employee...succumbed to injuries sustained in an incident at Gahcho Ku?(C)," the miner said last week. "The circumstances around what happened are under investigation by the appropriate authorities. All nonessential work at...Read More
(IDEX Online) - Kyrgyzstan, the former Soviet republic, and one of the world's poorest countries, says it has diamond deposits.The central Asian nation has never before reported diamond deposits. In 2020 it imported a negligible $61,000 of diamonds, primarily from UAE.Kanatbek Madumarov, the Kyrgz Director of Precious Metals Department, said the geological explorations were ongoing, but noted...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 23 points in pre-opening trade.Bed Bath & Beyond dropped $1.21 to $7.42 on news that the company's Chief Financial Officer died by suicide.Discover Financial slipped $0.28 to $99.25 after JP Morgan downgraded the stock from Overweight to Neutral.FedEx dropped $3.32 to $205.40 after Citigroup downgraded the stock fr...Read More
RAPAPORT... De Beers has resumed work at the Gahcho Ku?(C) mine in Canada after temporarily shutting operations following the death of an employee at the site."Limited production has now resumed at the mine and is expected to ramp up over the next few days," a De Beers spokesperson told Rapaport News Tuesday.The incident occurred on September 1 and involved a worker from a contract partner company...Read More