(IDEX Online) - The Responsible Jewellery Council (RJC) appointed seven directors at its AGM, but has yet to find a permanent replacement for executive director Iris Van der Veken.She quit at the end of March over the council's failure to take a tougher stance against Alrosa, the miner that is one-third owned by the Russian government.The London-based watchdog was also rocked by the departure...Read More
(IDEX Online) - A huge 1kg platinum coin, set with 6.5-carats of Argyle pink diamonds, smashed estimates when it sold at auction for just over US$1m.The one-off creation is the highlight of the Royal Canadian Mint's Opulence Collection, featuring gems from the iconic Australian mine that closed in November 2020.The rose gold-plated, platinum coin, known as The Ultimate, was hand set with 462...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points in pre-opening trade.Novavax jumped $9.96 to $57.50 after the FDA Advisory Group voted to recommend the company's COVID 19 vaccine.Scotts Miracle Grow plunged $13.86 to $88.32 after issuing a profit warning. Campbell Soup added $1.70 to $48.30 after reporting higher than consensus fiscal third quarter revenu...Read More
RAPAPORT... After a year of prosperity in 2021, the trade is dealing with uncertainty related to the Russia-Ukraine conflict, as well as continued Covid-19 shutdowns in China and economic caution in the US. The conflict has fundamentally changed the dynamic in the diamond and jewelry industry, noted Rapaport senior analyst Avi Krawitz in the latest installment of the "Diamond Trends" webinar serie...Read More
RAPAPORT... The Natural Diamond Council (NDC) is expanding its reach into the United Arab Emirates (UAE) through partnerships with three jewelry retailers that will help "familiarize" younger consumers in the region with natural diamonds.The NDC will work with Malabar Gold & Diamonds, Jawhara Jewellery and La Marquise Jewellery to advocate the "natural-diamond dream" and enhance trust in the i...Read More
RAPAPORT... The Responsible Jewellery Council (RJC) has elected World Diamond Council (WDC) president Edward Asscher as one of the new representatives to its board.Asscher will represent the trade association forum on the RJC's board of directors, the industry standards organization said last week. His appointment was announced along with several others at the RJC's annual general meeting (AGM) on...Read More
RAPAPORT PRESS RELEASE, June 7, 2022, Las Vegas... Diamond trading was stable in May despite concerns about inflation, rising interest rates and slumping stock markets. Polished prices initially declined but later steadied as dealers anticipated supply shortages resulting from Russian sanctions.The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds slid 0.5% in May but was 9.3% higher on June 1...Read More
(IDEX Online) - De Beers has reportedly raised the price of smaller goods, which have been in scarce supply since sanctions against Russian miner Alrosa began to bite.Sources have told Bloomberg News that prices are up by five to seven per cent at Sight 5, which opened yesterday in Gaborone, Botswana.Alrosa normally supplies a large proportion of rough cluster diamonds below 0.30-cts used by manuf...Read More
(IDEX Online) - GIA today said all its reports will be digital-only by 2025, saving 20 tons of paper and 18.5 tons of plastic a year.The Gemological Institute of America will launch a digital version of its Diamond Dossier in January 2023.New AI technology will capture the diamond's inscription image and securely link to its unique GIA report in the cloud.Susan Jacques, president and CEO of G...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 36 points in pre-opening trade.Target Stores dropped $12.78 to $146.89 after the company cut its profit estimate for the second quarter. JM Smucker fell $3.76 to $119.50 after lowering its fiscal first quarter guidance. McKesson added $2.41 to $320.20 after Deutsche Bank upgraded its rating from Hold to Buy.Amerisourc...Read More
RAPAPORT... Lab-grown diamond producer Adamas One will raise money through a public stock listing amid uncertainty about the future of its business, it said in a US Securities and Exchange Commission (US SEC) filing last week.The company, which acquired synthetics creator Scio Diamond for $2.1 million in 2019, has applied for an initial public offering (IPO) on Nasdaq. Adamas indicated the total v...Read More
RAPAPORT... Rio Tinto has debuted a new strategy that will enable it to "protect the provenance" of its Argyle pink diamonds, including a certification service and a concierge trading platform."This is the start of a new chapter for Argyle pink diamonds, to ensure they maintain their value and investment potential as a finite, unrepeatable natural resource and achieve the status of outstanding her...Read More
Laboratory-grown diamonds are increasingly available in greater quantities, higher quality and new colors at price points that many find attractive. It is no wonder, then, that laboratory-grown diamonds are a growing presence in the marketplace. Laboratory-grown diamonds are appealing options for consumers looking for affordable, attractive alternatives to natural diamonds. They make it easier for...Read More
RAPAPORT... Signet Jewelers banner Banter by Piercing Pagoda has appointed Grammy-nominated rapper, songwriter and artist Tierra Whack as its first creative director.The hire is driven by the brand's focus on encouraging self-exploration and celebrating uniqueness, Banter said last week. Whack, whom the company described as "unapologetically herself," has designed a capsule collection of jewelry f...Read More
(IDEX Online) - BlueRock Diamonds says production has been badly hit by wet weather.Rainfall at its Kareevlei mine, in Kimberley, South Africa, was 22 inches from January to May - double the average for an entire year.The rain hampered access to high-quality kimberlite, forcing the mine to use lower grade ore and delaying roll-out of its mining development plan.Processing production was down by 36...Read More
(IDEX Online) - A prominent jeweler in Detroit, USA, was shot dead in what police describe as a targeted attack.Daniel "Hutch" Hutchinson, 47, was gunned down at the wheel of his SUV. Footage from the aftermath shows nine bullet holes in the driver's side window.Hutchinson's wife Marisa, who was also in the vehicle, survived the attack unhurt.Police said they made an arrest following the...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 43 points in pre-opening trade.Amazon added $1.79 to $124.14 following a 20 for 1 stock split effective today. Spotify added $5.22 to $117.45 after Raymond James upgraded the stock from Market Perform to Outperform.Ryder System added $0.64 to $82.24 after Stifel Nicolaus raised its target price from $80 to $90. Eq...Read More
Laboratory-grown diamonds are increasingly available in greater quantities, higher quality and new colors at price points that many find attractive. It is no wonder, then, that laboratory-grown diamonds are a growing presence in the marketplace. Laboratory-grown diamonds are appealing options for consumers looking for affordable, attractive alternatives to natural diamonds. They make it easier for...Read More
(IDEX Online) - The wife of fugitive diamantaire Mehul Choksi has been charged with money laundering offences.Priti Kothari was "hand in glove" with her husband - who has been accused of a $1.8bn Punjab National Bank (PNB) fraud - according to a supplementary charge sheet issued by India's Enforcement Directorate (ED).It describes her as an "active participant and abettor" and and says she wa...Read More
(IDEX Online) - US sales of jewelry and watches rallied somewhat in April - up just over 18 per cent year-on-year - after a relatively disappointing performance in March. Sales for March, previously reported at just 8.5 per cent, have been revised up to 11 per cent, taking account of actual rather than estimated sales. Even so, they were the lowest since August 2020. Hav...Read More