Key players have taken “a very important step in the right direction” to raising $100m for the long-term promotion of natural diamonds, according to Yoram Dvash, president of the World Federation of Diamond Bourses (WFDB).
Russia will continue to buy diamonds through a state fund in 2025 in order to support the diamond industry and market, Deputy Finance Minister Alexei Moiseev said on Thursday. The Russian budget for 2025-2027 has set aside $1.55 billion for the purchase of precious metals and gems, Moiseev said in a statement. Sign Up for … Read more
Austrian jewelry brand Swarovski’s entry into the lab-grown diamond sector has seen a positive reception in the China market, signaling growing consumer acceptance and confidence in the product category, said a senior executive. Since the launch of Swarovski Created Diamonds Swarovski’s lab-grown diamond product line in April, the company has found that Chinese consumers are … Read more
Kim Kardashian has debuted an iconic piece of jewelry – the amethyst and diamond pendant famously worn by the late Princess Diana. She paid $197,000 at Sotheby’s London for the for the Attallah Cross in January. It belonged to the late prominent Palestinian-British businessman Naim Ibrahim Attallah, who bought it in the 1980s and often … Read more
Lucara Diamond Corp. said the long-term natural diamond price outlook remains resilient due to favourable supply and demand dynamics as a result of decreasing production volumes from major operating mines. “However, the smaller size stones market remains soft as demand is impacted by a weak Asian market and the increasing uptake of laboratory grown diamonds,’’ … Read more
Mountain Province reported increased net losses for the latest quarter as prices keep on dropping in a “challenging market”. The Canadian miner today (7 November) announced a net loss of $13.6m for the three months to 30 September, following on from a $4.7m loss in Q2 (all figures are in US dollars). “In Q3 2024 … Read more
The natural diamond industry needs coordinated and consistent marketing campaigns to counter declining demand, says Yoram Dvash, president of the World Federation of Diamond Bourses (WFDB). In an open letter he calls on every member of the industry to help create a five-year plan, rather than relying on “short-term initiatives when the situation is particularly … Read more
A 16.73 carat very light pink diamond is expected to sell for CHF 1.1m to CHF 1.8m ($1.3m to $2m) in Sotheby’s Geneva Magnificent Jewels Sale. Another highlight of the sale, which features many colored diamonds, is a 1.44 carat fancy red diamond (the rarest of all diamond colors) from Australia’s iconic Argyle mine. They’ll … Read more
India’s exports of polished diamonds suffered yet another big fall in September, down 22.9 per cent, according to the latest figures from the GJEPC (Gem and Jewellery Export Promotion Council). That’s a marginally better performance than August, when year-on-year exports were down by 23.8 per cent. Between April and September total foreign sales fell 20.6 … Read more
A pair of fancy vivid orange-yellow diamond earrings sold for almost $8m at Christie’s Hong Kong. They were the lead item in the Magnificent Jewels sale that raised just over $60m on 29 October. The Oriental Sunrise earrings feature a pair of Type 1b oval mixed-cut diamonds – 12.20 carats (VVS2) and 11.96 carats (VS1) … Read more