The Entice brand is well known for its rare diamonds and colored gemstones, which are purchased at mines, and then are smashed at the enterprises of the KGK group of companies around the world. In addition, each precious stone is sold with a certificate certifying its exclusivity and quality, which confirms its value. The design of jewelry from the collection "Entice" is aimed at meeting the growing demand for jewelry products that meet international aesthetic standards, and this gives them a unique artistic appearance.
Sunday, April 29, 2018
"Entice", a brand of high-quality jewelry produced by a well-known group of companies KGK, presented a charming and colorful range of gifts for Valentine's Day. Inlaid with diamonds and fine gemstones, classic rings and elegant earrings provide customers with ample opportunities to choose the perfect gift from the exquisite collection of "Entice", created specifically for this holiday.
The Entice brand is well known for its rare diamonds and colored gemstones, which are purchased at mines, and then are smashed at the enterprises of the KGK group of companies around the world. In addition, each precious stone is sold with a certificate certifying its exclusivity and quality, which confirms its value. The design of jewelry from the collection "Entice" is aimed at meeting the growing demand for jewelry products that meet international aesthetic standards, and this gives them a unique artistic appearance.
The Entice brand is well known for its rare diamonds and colored gemstones, which are purchased at mines, and then are smashed at the enterprises of the KGK group of companies around the world. In addition, each precious stone is sold with a certificate certifying its exclusivity and quality, which confirms its value. The design of jewelry from the collection "Entice" is aimed at meeting the growing demand for jewelry products that meet international aesthetic standards, and this gives them a unique artistic appearance.
Three weeks before the opening of the 5th Antwerp Diamond Trade Fair (ADTF), the organizing committee of the event announced the holding of two specialized seminars - business breakfasts dedicated to diamond marketing and advertising.
On January 27, the seminar will feature an expert on diamond marketing from Chicago Aleah Arundale-Siegel, who will talk about the specifics of retailing of diamonds and diamond jewelry.
The second seminar, which will be held on January 28, will host the president of the World Federation of Diamond Exchanges (WFDB) Ernst Blom (Ernst Blom). He will inform about the initiative of the World Diamond Brand Foundation (WDMF) to develop and implement a global campaign of industry-wide marketing and advertising. Blom is also deputy chairman of WDMF.
"Retailers are in dire need of support for their consumer-oriented advertising and marketing campaigns." Mr. Blom will give an overview of the business model proposed by the World Diamond Mark (WDM), which has already received approval from a wide range of market participants in the jewelry market with diamonds, "- said in this regard, Ya'akov Almor (Ya'akov Almor), responsible for communications in WDM. "
On January 27, the seminar will feature an expert on diamond marketing from Chicago Aleah Arundale-Siegel, who will talk about the specifics of retailing of diamonds and diamond jewelry.
The second seminar, which will be held on January 28, will host the president of the World Federation of Diamond Exchanges (WFDB) Ernst Blom (Ernst Blom). He will inform about the initiative of the World Diamond Brand Foundation (WDMF) to develop and implement a global campaign of industry-wide marketing and advertising. Blom is also deputy chairman of WDMF.
"Retailers are in dire need of support for their consumer-oriented advertising and marketing campaigns." Mr. Blom will give an overview of the business model proposed by the World Diamond Mark (WDM), which has already received approval from a wide range of market participants in the jewelry market with diamonds, "- said in this regard, Ya'akov Almor (Ya'akov Almor), responsible for communications in WDM. "
US retail sales rose 3.5 percent during the holiday sales season of 2013, helped by large discounts in shopping centers and consumer demand for jewelry, according to the SpendingPulse report prepared by MasterCard Advisors.
"For retailers, Christmas has turned out to be joyful," Sarah Quinlan, senior vice president of MasterCard Advisors, said in an interview with Reuters. According to her information, jewelry became the most popular category of goods in the past season of shopping.
Analysts have called this season the most competitive, beginning with the economic downturn in 2008, as Americans are under pressure from unreasonable salaries, higher taxes and the effects of government closure last fall.
"For retailers, Christmas has turned out to be joyful," Sarah Quinlan, senior vice president of MasterCard Advisors, said in an interview with Reuters. According to her information, jewelry became the most popular category of goods in the past season of shopping.
Analysts have called this season the most competitive, beginning with the economic downturn in 2008, as Americans are under pressure from unreasonable salaries, higher taxes and the effects of government closure last fall.
jewelery exhibition Jaipur Jewelery Show (JJS) 2013, held in Jaipur, the company MBJ presented the largest ever in India collection of jewelry wedding jewelry with diamonds. This collection of wedding jewelry is now sold at MBJ stores in Delhi, Calcutta and Jaipur. The impressive collection of MBJ wedding jewelry, well known in India and abroad for its jewelry designs in the styles Rose Cut Antique, Kundan-Jadau, Polki and gold products, has over 500 exquisite items and is considered the largest in the world. its category. This collection is traditionally modern, dedicated to modern Indian women, who, although following world trends, also want to keep in touch with their roots.
Some of the outstanding products of this collection include an amazing set of diamonds, which uniquely combine Thai rubies, emerald cabochons and ornaments in the style of "Rolki"; a diamond with a faceted "rose" of unusual size, set in a Victorian style ring and a set of decorations in the style of "Рolki", trimmed with pearls from the South Sea and emerald cabochons that make it ideal for cocktails or weddings (Mehandi). This collection includes decorations for all wedding celebrations and special occasions that young bride will have, from heavy and exquisitely decorated to youthful and fashionable jewelry that a modern woman will like.
Speaking at the presentation of the collection, Gautam Soni, Managing Director, said: "Buying diamond wedding jewelry can be a terrible and difficult task. At this exhibition we brought together about 500 jewelry, which take into account everything they need for the wedding and later.
Some of the outstanding products of this collection include an amazing set of diamonds, which uniquely combine Thai rubies, emerald cabochons and ornaments in the style of "Rolki"; a diamond with a faceted "rose" of unusual size, set in a Victorian style ring and a set of decorations in the style of "Рolki", trimmed with pearls from the South Sea and emerald cabochons that make it ideal for cocktails or weddings (Mehandi). This collection includes decorations for all wedding celebrations and special occasions that young bride will have, from heavy and exquisitely decorated to youthful and fashionable jewelry that a modern woman will like.
Speaking at the presentation of the collection, Gautam Soni, Managing Director, said: "Buying diamond wedding jewelry can be a terrible and difficult task. At this exhibition we brought together about 500 jewelry, which take into account everything they need for the wedding and later.
The Federal Board of Revenue (FBR) instructed the customs authorities to simplify the procedure for issuing exported lots of precious stones and jewelry to stimulate the development of the country's emerging jewelry industry, Rapaport reports citing the local Business Recorder.
According to some sources, this decision was made at a meeting of the commission of the Ministry of Industry, within which a new strategy was developed to promote the export of precious stones and jewelry.
The Director General of the Pakistan Gems and Jewelery Development Company (PGJDC) briefed the participants on the proposed strategy, and his team highlighted the main aspects of the PGJDC action plan, which provides rationalization of tax policy, promotion of marketing, creation of financial and renewable funds, strengthening of production clusters and establishment of special industrial parks.
PGJDC stated that to achieve its objectives, it needs the assistance of the FBR, as well as the ministries of trade, finance, and industry. Among other things, it is necessary to revise the provisions of SRO 575 (1) / 2006 on the import of equipment for jewelry production, as well as the condition for notarization of the contract between the exporter and importer under the scheme specified in SRO 760 (1) / 2013. To stimulate the growth of exports, it is necessary to develop schemes of benefits, as it is implemented in other sectors. Insurance and reinsurance corporation of Pakistan should carry out insurance of precious stones and jewelry.
Among the proposals received - cancellation or reduction of up to 1% of the tax on gold, reduction of the pre-term income tax on pearls, synthetic stones, precious and semiprecious stones and diamonds from 5% to 1%.
At the meeting, it was agreed to consider the issue of lifting the duty on the import of equipment for the jewelry industry.
According to some sources, this decision was made at a meeting of the commission of the Ministry of Industry, within which a new strategy was developed to promote the export of precious stones and jewelry.
The Director General of the Pakistan Gems and Jewelery Development Company (PGJDC) briefed the participants on the proposed strategy, and his team highlighted the main aspects of the PGJDC action plan, which provides rationalization of tax policy, promotion of marketing, creation of financial and renewable funds, strengthening of production clusters and establishment of special industrial parks.
PGJDC stated that to achieve its objectives, it needs the assistance of the FBR, as well as the ministries of trade, finance, and industry. Among other things, it is necessary to revise the provisions of SRO 575 (1) / 2006 on the import of equipment for jewelry production, as well as the condition for notarization of the contract between the exporter and importer under the scheme specified in SRO 760 (1) / 2013. To stimulate the growth of exports, it is necessary to develop schemes of benefits, as it is implemented in other sectors. Insurance and reinsurance corporation of Pakistan should carry out insurance of precious stones and jewelry.
Among the proposals received - cancellation or reduction of up to 1% of the tax on gold, reduction of the pre-term income tax on pearls, synthetic stones, precious and semiprecious stones and diamonds from 5% to 1%.
At the meeting, it was agreed to consider the issue of lifting the duty on the import of equipment for the jewelry industry.
One of the leading Indian jewelery retailers - PC Jeweller Limited has opened its 40th salon, which is located in Bangalore, in the south of India, the Diamond World portal reports.
The three-story store occupies a total area of 9,393 square meters. ft. On the first two floors in the store are jewelry made of gold, and on the third there is an assortment of diamond jewelry, the report said.
The three-story store occupies a total area of 9,393 square meters. ft. On the first two floors in the store are jewelry made of gold, and on the third there is an assortment of diamond jewelry, the report said.
Kingold Jewelry Inc. recently began selling products from 24-carat gold through the online portal of the China Construction Bank (CCB), located at http://mall.ccb.com. The CCB site unites a number of manufacturers, wholesalers and retailers and is a trading platform for interaction between producers and consumers in B2B and B2C formats, Rapaport reports.
Kingold CEO Zhihong Jia said: "We continue to look for new channels for the marketing of our products. The recently reached agreements give us the opportunity to expand our client base. The launch of sales on the CCB portal is a major milestone in the development of Kingold, allowing access to a wide range of customers and taking advantage of the rapidly growing online sales segment in China. "
Kingold CEO Zhihong Jia said: "We continue to look for new channels for the marketing of our products. The recently reached agreements give us the opportunity to expand our client base. The launch of sales on the CCB portal is a major milestone in the development of Kingold, allowing access to a wide range of customers and taking advantage of the rapidly growing online sales segment in China. "
The Reserve Bank of India partially mitigated restrictions on the import of Dore gold alloys, allowing imports of 15 percent of its annual demand in the first two months, and the rest, depending on export performance. "Refineries have been granted permission to import Dore gold alloys up to 15 percent of their total average demand, based on their license permits in the first two months, so that they are available to exporters on the basis of the" first in First " out, FIFO). Then, the amount of gold-silver alloys Dore for imports should be determined for each lot on the basis of export performance, "RBI said in messages to banks.
Diamond Services Ltd., a Hong Kong based company specializing in cutting-edge technology solutions for the diamond, jewelery and jewelry industry, has developed a new affordable and inexpensive technology that makes it much easier for diamond companies to identify synthetic diamonds, both unmanaged and rimmed.
According to Yossi Kuzi, owner of Diamond Services, the basis of the new technology is laser optics. "In close cooperation with the chemical department of one of the world's leading academic institutions, we developed a device through which colorless diamonds of all sizes, shapes and sizes with 100 percent confirmation are checked," Kuzi asserts.
In 2012, his company released DiamaPen, an inexpensive device that allows you to accurately determine and qualify the color of fancy synthetic diamonds.
A new screening system that delivers the result within a few minutes will be presented at the upcoming Hong Kong jewelry exhibition and will be available to users in any part of the world. The first service centers will start operating in March 2014 in Hong Kong and Israel.
According to Yossi Kuzi, owner of Diamond Services, the basis of the new technology is laser optics. "In close cooperation with the chemical department of one of the world's leading academic institutions, we developed a device through which colorless diamonds of all sizes, shapes and sizes with 100 percent confirmation are checked," Kuzi asserts.
In 2012, his company released DiamaPen, an inexpensive device that allows you to accurately determine and qualify the color of fancy synthetic diamonds.
A new screening system that delivers the result within a few minutes will be presented at the upcoming Hong Kong jewelry exhibition and will be available to users in any part of the world. The first service centers will start operating in March 2014 in Hong Kong and Israel.
Joyalukkas, the world-famous jewelery retail chain, further strengthened its presence in Mumbai by opening January 4, 2014, two new demonstration halls in Mulunda and Yours. Bollywood star Hrithik Roshan, the face of the jewelry brand Joyalukkas, opened both showrooms in the presence of Mr. Joy Alukkas, chairman of the board of Joyalukkas, and other guests from among the city's high-ranking officials.
"Being one of the most favorite jewelry brands in the world, we have always been engaged in improving services for our customers, offering them the best in terms of quality and design. Mumbai is an active city of trade and fashion, and we are confident that our international experience will help us serve this city with the help of our latest trends in jewelry from around the world. At present, we carry out carefully thought-out activities to promote this brand and products to the broad masses. The opening of two new demonstration halls in Mumbai serves our main goal of creating a network of 100 jewelry demonstration halls in 10 countries by March 2014, "said Joy Alukkas, Chairman and Managing Director of the Joyalukkas Group.
Both showrooms located in Mulunda and Your (Navi Mumbai - the satellite city of Mumbai) correspond to the corporate style of Joyalukkas - large-scale design), and there are more than 1 million designs of the entire assortment of jewelry forms, such as jewelry made of gold, diamonds, precious stones, polka style, platinum and pearls. In the showrooms, there is excellent service, which is characteristic of the name Joyalukkas all over the world, and also offers the best prices, excellent quality of the final product and the popular clear price tag, which allows buyers to fully understand the cost and all details of the jewelry, which they buy.
"Being one of the most favorite jewelry brands in the world, we have always been engaged in improving services for our customers, offering them the best in terms of quality and design. Mumbai is an active city of trade and fashion, and we are confident that our international experience will help us serve this city with the help of our latest trends in jewelry from around the world. At present, we carry out carefully thought-out activities to promote this brand and products to the broad masses. The opening of two new demonstration halls in Mumbai serves our main goal of creating a network of 100 jewelry demonstration halls in 10 countries by March 2014, "said Joy Alukkas, Chairman and Managing Director of the Joyalukkas Group.
Both showrooms located in Mulunda and Your (Navi Mumbai - the satellite city of Mumbai) correspond to the corporate style of Joyalukkas - large-scale design), and there are more than 1 million designs of the entire assortment of jewelry forms, such as jewelry made of gold, diamonds, precious stones, polka style, platinum and pearls. In the showrooms, there is excellent service, which is characteristic of the name Joyalukkas all over the world, and also offers the best prices, excellent quality of the final product and the popular clear price tag, which allows buyers to fully understand the cost and all details of the jewelry, which they buy.
Zale Corporation announced the results of sales in the festive season of 2013. Sales of Zale for the period from November to December 2013 increased by 2%. However, sales revenue decreased by $ 11 million compared to the same period last year and amounted to $ 556 million. The decrease in revenue is due primarily to the fact that the company reduced the number of outlets.
"In the festive season, we concentrated on promoting our exclusive products, improving gross margins and developing our main national brands," said Theo Killion, CEO of the corporation.
During the conference call, Killion noted the harsh conditions of the past holiday season, including a sharp drop in the number of customers who visited shopping centers, adverse weather and fewer days of sales.
"We spent the festive season at a decent level, despite the difficult retail situation. The results of our activities during the holidays give us confidence that we will be able to achieve our expected financial performance for the financial year, "the head of Zale Corporation said.
"In the festive season, we concentrated on promoting our exclusive products, improving gross margins and developing our main national brands," said Theo Killion, CEO of the corporation.
During the conference call, Killion noted the harsh conditions of the past holiday season, including a sharp drop in the number of customers who visited shopping centers, adverse weather and fewer days of sales.
"We spent the festive season at a decent level, despite the difficult retail situation. The results of our activities during the holidays give us confidence that we will be able to achieve our expected financial performance for the financial year, "the head of Zale Corporation said.
In 2013, prices for certified diamonds fell amid weakening demand growth in China and India, Rapaport reports. The diamond trade was supported by stable demand from the USA, and the main turnover was small diamonds of the lowest price category. By December, sentiment on the market improved due to good performance of holiday sales in the US and growing expectations for the Chinese New Year. However, liquidity in diamond cutting markets and in the dealer segment remains limited.
The margin of profit is very low, and banks have reduced the volume of crediting purchases of rough diamonds to participants in the polished diamond sector.
In December 2013, the price index RapNet Diamond Index (RAPI ™) for diamonds weighing 1 carat grew by 0.2%, while RAPI for smaller diamonds increased more significantly, continuing the trend, which was strengthening throughout the whole of 2013.
In 2013, RAPI for certified diamonds weighing 1 carat fell by 4.5%. RAPI for diamonds weighing 0.30 carats increased by 10.1%, and diamonds weighing 0.50 carats fell by 0.7%. With respect to diamonds weighing 3 carats, the index fell by 4% in 2013.
The Rapaport monthly report, entitled Improved Sentiment, in January 2014, notes that diamond trade has intensified due to increased demand in the last days before Christmas, which slowed in European and American wholesale markets during the subsequent holidays.
There was a good demand for small diamonds of commercial quality, as American consumers focused on special promotions and low-cost purchases during this festive season. It is expected that this trend will continue as the attention of all market participants is transferred to the Far East region, where the celebration of the Chinese New Year begins on January 31.
Retail sales of jewelry in the Far East were supported by high demand for gold, but it is expected that the major jewelry companies will make great efforts to encourage the growth in sales of diamonds and increase their profit margins.
In the first quarter of 2014, it is forecasted an improvement in diamond turnover due to demand during the Chinese New Year and the replenishment of stocks by American retailers. However, buyers remain conservative, and jewelry retailers are used to manage modest stocks. Diamond markets show selectivity and increased sensitivity to prices. Although the mood has improved, and the outlook for 2014 looks more optimistic, there are a number of problems in the diamond industry.
The margin of profit is very low, and banks have reduced the volume of crediting purchases of rough diamonds to participants in the polished diamond sector.
In December 2013, the price index RapNet Diamond Index (RAPI ™) for diamonds weighing 1 carat grew by 0.2%, while RAPI for smaller diamonds increased more significantly, continuing the trend, which was strengthening throughout the whole of 2013.
In 2013, RAPI for certified diamonds weighing 1 carat fell by 4.5%. RAPI for diamonds weighing 0.30 carats increased by 10.1%, and diamonds weighing 0.50 carats fell by 0.7%. With respect to diamonds weighing 3 carats, the index fell by 4% in 2013.
The Rapaport monthly report, entitled Improved Sentiment, in January 2014, notes that diamond trade has intensified due to increased demand in the last days before Christmas, which slowed in European and American wholesale markets during the subsequent holidays.
There was a good demand for small diamonds of commercial quality, as American consumers focused on special promotions and low-cost purchases during this festive season. It is expected that this trend will continue as the attention of all market participants is transferred to the Far East region, where the celebration of the Chinese New Year begins on January 31.
Retail sales of jewelry in the Far East were supported by high demand for gold, but it is expected that the major jewelry companies will make great efforts to encourage the growth in sales of diamonds and increase their profit margins.
In the first quarter of 2014, it is forecasted an improvement in diamond turnover due to demand during the Chinese New Year and the replenishment of stocks by American retailers. However, buyers remain conservative, and jewelry retailers are used to manage modest stocks. Diamond markets show selectivity and increased sensitivity to prices. Although the mood has improved, and the outlook for 2014 looks more optimistic, there are a number of problems in the diamond industry.
Signet Jewelers Ltd, the largest specialized jewelry retailer in the US and UK, summed up the eight-week season of holiday sales, which ended on December 28, 2013. Sales in comparable Signet stores in the US grew by 4.9%, and the results of the unit in the UK were even better than the US - recorded an increase of 5.2%.
"We are pleased that we were able to achieve sales growth in our stores by 5% in the past holiday season and are particularly encouraged by the improvement in our UK division and impressive sales results across the Internet in all regions," said Signet CEO Mike Barnes, .
Barnes stressed that in American outlets the holiday sales season was characterized by high trading activity in November and a strong final in December. "Nevertheless, it was necessary to introduce additional discounts in connection with a large number of promotions in the retail environment, as well as complex trends in the dynamics of consumer traffic," said the director of Signet.
"We are pleased that we were able to achieve sales growth in our stores by 5% in the past holiday season and are particularly encouraged by the improvement in our UK division and impressive sales results across the Internet in all regions," said Signet CEO Mike Barnes, .
Barnes stressed that in American outlets the holiday sales season was characterized by high trading activity in November and a strong final in December. "Nevertheless, it was necessary to introduce additional discounts in connection with a large number of promotions in the retail environment, as well as complex trends in the dynamics of consumer traffic," said the director of Signet.
Jewelry retailer Tiffany & Co. notes the annual growth of holiday sales by 4% to $ 1.03 billion during the Christmas season in November and December 2013, Rapaport reports. Sales in comparable stores Tiffany showed an increase of 6%.
Revenue from sales of jewelry retailers in the Americas region increased over the reporting period by 6% to $ 550 million, sales in comparable stores increased by 7%. Revenues from sales in the Asia-Pacific region increased by 5% to $ 196 million against the backdrop of stable sales in comparable stores.
Sales of Tiffany in Japan fell by 12% to $ 135 million, due to a weaker yen, while sales in comparable stores in Japan jumped by 10%. Sales in Europe grew by 11% to $ 131 million, while sales in comparable stores grew by 3%.
CEO of Tiffany & Co. Michael J. Kowalski said that the festive season was successful and the overall sales results met the expectations of the company, noting that there was a growth in sales for a number of product categories.
Fiscal year Tiffany & Co. will end on January 31, 2014, and the company expects earnings per share of $ 1.27 - $ 1.37 compared to $ 3.25 a year earlier, which is due to losses caused by the arbitration court decision in the proceedings with the Swatch Group.
Revenue from sales of jewelry retailers in the Americas region increased over the reporting period by 6% to $ 550 million, sales in comparable stores increased by 7%. Revenues from sales in the Asia-Pacific region increased by 5% to $ 196 million against the backdrop of stable sales in comparable stores.
Sales of Tiffany in Japan fell by 12% to $ 135 million, due to a weaker yen, while sales in comparable stores in Japan jumped by 10%. Sales in Europe grew by 11% to $ 131 million, while sales in comparable stores grew by 3%.
CEO of Tiffany & Co. Michael J. Kowalski said that the festive season was successful and the overall sales results met the expectations of the company, noting that there was a growth in sales for a number of product categories.
Fiscal year Tiffany & Co. will end on January 31, 2014, and the company expects earnings per share of $ 1.27 - $ 1.37 compared to $ 3.25 a year earlier, which is due to losses caused by the arbitration court decision in the proceedings with the Swatch Group.
Valentine's Day is not far off, and in the boutique Varuna D Jani was presented a designer collection of precious jewelry for women. Varuna Jani, being a jewelry designer and consultant, used the classic designs of her previous collections and redesigned them for a new line of jewelry.
The jewelry collection consists of a necklace with colored gems and multi-functional wedding decorations with removable items.
Varuna D Jani jewelry designs do not go out of fashion and are distinguished by their perfect form and jewelry skills, where great attention is paid to small details and uniqueness of design. In the boutique of Varuna there are also jewelry gifts for men: cufflinks, tie pins and bracelets.
The jewelry collection consists of a necklace with colored gems and multi-functional wedding decorations with removable items.
Varuna D Jani jewelry designs do not go out of fashion and are distinguished by their perfect form and jewelry skills, where great attention is paid to small details and uniqueness of design. In the boutique of Varuna there are also jewelry gifts for men: cufflinks, tie pins and bracelets.
The US consumer price index (CPI) for jewelry in December 2013 declined by 0.7% on a year-on-year basis to 175.59 points, being 6.5 points lower than the highest value in 2013 (more than 182 points) recorded in August, reports Rapaport.
The record CPI for jewelry in the amount of 183.19 points was registered in January 2012. The average value of the index in 2013 was 177.6 points, 0.4% lower than the average in 2012.
Nevertheless, taking into account the December data, the CPI exceeded the average of 170 points for 36 consecutive months, thus maintaining a steady trend of inflation.
CPI for jewelry reached a record mark in early 2012, but after that, throughout 2012, prices for diamonds, gold and platinum were under pressure. As of December, gold prices declined by about 27% on a year-on-year basis, and platinum fell in price by almost 20%.
In December, the RapNet diamond price index (RAPI) for certified 1 carat stones remained generally stable, having increased by only 0.2%. The price index for diamonds weighing 0.5 carats rose by 1.1%, and diamonds weighing 0.3 carats went up by 2.8%. Meanwhile, stones weighing 3 carats fell in price by 0.8% in the reporting month.
The general index of consumer prices for all categories of products in December increased by 1.5% in the year-on-year terms and reached 234.58 points.
The record CPI for jewelry in the amount of 183.19 points was registered in January 2012. The average value of the index in 2013 was 177.6 points, 0.4% lower than the average in 2012.
Nevertheless, taking into account the December data, the CPI exceeded the average of 170 points for 36 consecutive months, thus maintaining a steady trend of inflation.
CPI for jewelry reached a record mark in early 2012, but after that, throughout 2012, prices for diamonds, gold and platinum were under pressure. As of December, gold prices declined by about 27% on a year-on-year basis, and platinum fell in price by almost 20%.
In December, the RapNet diamond price index (RAPI) for certified 1 carat stones remained generally stable, having increased by only 0.2%. The price index for diamonds weighing 0.5 carats rose by 1.1%, and diamonds weighing 0.3 carats went up by 2.8%. Meanwhile, stones weighing 3 carats fell in price by 0.8% in the reporting month.
The general index of consumer prices for all categories of products in December increased by 1.5% in the year-on-year terms and reached 234.58 points.
2013, polished exports from India showed an increase of 15.6%, to $ 1,100.83 million, compared to $ 952.7 million in December 2012, according to preliminary data from the Council for the Promotion of the Export of Gemstones and Jewelry (Gem & Jewelery Export Promotion Council, GJEPC).
In the meantime, the volume of polished exports for the month was reduced to 18.74 million carats, compared with 20.39 million carats, exported for the same period in 2012.
Net polished exports for the period from April to December 2013 grew by 27.75% on a year-on-year basis and reached $ 14.703 billion. Between April and December 2012, India exported $ 11,509 billion worth of diamonds.
Indian diamond imports in December 2013 decreased by 6.52% to $ 1,652.53 million, compared with imports of $ 1,767.85 million, registered in December 2012. In December, Meanwhile, rough diamond exports jumped 31.53% to $ 104.32 million in December from $ 79.31 million in December 2012.
Net Indian rough imports for the period from April to December 2013 increased by 12.74% year-on-year to $ 12.586 billion, compared with $ 11.164 billion in April-December 2012.
In the meantime, the volume of polished exports for the month was reduced to 18.74 million carats, compared with 20.39 million carats, exported for the same period in 2012.
Net polished exports for the period from April to December 2013 grew by 27.75% on a year-on-year basis and reached $ 14.703 billion. Between April and December 2012, India exported $ 11,509 billion worth of diamonds.
Indian diamond imports in December 2013 decreased by 6.52% to $ 1,652.53 million, compared with imports of $ 1,767.85 million, registered in December 2012. In December, Meanwhile, rough diamond exports jumped 31.53% to $ 104.32 million in December from $ 79.31 million in December 2012.
Net Indian rough imports for the period from April to December 2013 increased by 12.74% year-on-year to $ 12.586 billion, compared with $ 11.164 billion in April-December 2012.
A temporary rise in jewelry sales will be observed over the next two years due to the increase in the number of weddings, however, in the long term, jewelry consumption will decline. According to the results of 2013, American sales of jewelry and watches will reach $ 79 billion, according to a recently released report "The state of the main jewelry market", prepared by Equity Communications.
According to the report, earlier young Americans have postponed their wedding plans due to difficult economic conditions. Historically, the number of marriages among Americans is falling, when consumers face economic uncertainty. However, today their expectations are more optimistic in connection with the improvement of employment prospects and the labor market. This means that this year the number of weddings in the US will increase.
According to the report, earlier young Americans have postponed their wedding plans due to difficult economic conditions. Historically, the number of marriages among Americans is falling, when consumers face economic uncertainty. However, today their expectations are more optimistic in connection with the improvement of employment prospects and the labor market. This means that this year the number of weddings in the US will increase.
In 2013, the diamond trade at the Shanghai Diamond Exchange (SDE) showed an increase of 12% year-on-year to $ 4.3 billion, according to the Exchange, released on Thursday, Rapaport reports.
In physical terms, the SDE turnover in 2013 reached about 80 million carats, which is 6.8% higher than the corresponding figure in 2012.
The diamond trade in China declined significantly in 2012 and partially recovered in 2013, as domestic diamond consumption increased and customs authorities successfully fought smuggling. In 2011, the diamond turnover of SDE was $ 4.7 billion.
The exchange, located in the Jinmao Plaza building in the Pudong district, was founded in October 2000 and is the only structure in China authorized to import and export diamonds and conduct trading operations with them.
SDE is a member of the World Federation of Diamond Bourses (World Federation of Diamond Bourses) and has 364 participants (as of the end of 2013).
In physical terms, the SDE turnover in 2013 reached about 80 million carats, which is 6.8% higher than the corresponding figure in 2012.
The diamond trade in China declined significantly in 2012 and partially recovered in 2013, as domestic diamond consumption increased and customs authorities successfully fought smuggling. In 2011, the diamond turnover of SDE was $ 4.7 billion.
The exchange, located in the Jinmao Plaza building in the Pudong district, was founded in October 2000 and is the only structure in China authorized to import and export diamonds and conduct trading operations with them.
SDE is a member of the World Federation of Diamond Bourses (World Federation of Diamond Bourses) and has 364 participants (as of the end of 2013).
The first brand in India of diamonds-solitaires Divine Solitaires, which stands for transparency of pricing and adherence to the highest quality standards, recently won the prize of the Indian Council for the Trade in Gemstones and Jewelry (Gem & Jewelery Trade Council of India, GJTCI) in the nomination "Best brand of tapeworms in India".
The award ceremony of the GJTCI Excellence Awards was held on January 4 in Ahmedabad and was called upon to honor companies that are pillars of the jewelry industry, recognizing their contribution to the growth and development of the jewelry industry. Receiving the award in the nomination "Best brand of tapeworms in India", Managing Director of Divine Solitaires Jignesh Mehta said: "We are honored to be awarded such a prestigious award at the GJTCI Excellence Awards.
The award ceremony of the GJTCI Excellence Awards was held on January 4 in Ahmedabad and was called upon to honor companies that are pillars of the jewelry industry, recognizing their contribution to the growth and development of the jewelry industry. Receiving the award in the nomination "Best brand of tapeworms in India", Managing Director of Divine Solitaires Jignesh Mehta said: "We are honored to be awarded such a prestigious award at the GJTCI Excellence Awards.
World experts in the fashion and jewelry industry are concerned about the ranking of the most stylish Hollywood stars. Recently, another celebrity contest on the red carpet was completed - the Beverly Hilton Hotel in Los Angeles hosted the 71st Golden Globe ceremony, which featured the best films and actors of 2013.
What is more important - to get a bonus or thousands of comments about your outfit? The main task for every actor is to arrive on the red carpet in full glory. For several months, the preparation of an exquisite and unique image of each participant of the award begins. At this time, many well-known jewelry brands begin close cooperation with celebrities in search of the most successful contract for the demonstration of a jewelry masterpiece. Some ornaments get their fame just after the presentation on the red carpet. In turn, the stars receive considerable royalties for the demonstration of jewelry.
Despite the fact that this year the actresses tried to show a more restrained style in dresses from Dior, Ralph Lauren, Elie Saab, Armani, Gucci, Carolina Herrera and Valentino, their decorations are not very modest.
According to the publication "People", the earrings and the ring from Lorraine Schwartz on the beauty of Sofia Vergara became the most expensive decorations of the ceremony. A more modest price was a necklace on Jessica Alba from Harry Winston, which is estimated at $ 5.8 million.
What is more important - to get a bonus or thousands of comments about your outfit? The main task for every actor is to arrive on the red carpet in full glory. For several months, the preparation of an exquisite and unique image of each participant of the award begins. At this time, many well-known jewelry brands begin close cooperation with celebrities in search of the most successful contract for the demonstration of a jewelry masterpiece. Some ornaments get their fame just after the presentation on the red carpet. In turn, the stars receive considerable royalties for the demonstration of jewelry.
Despite the fact that this year the actresses tried to show a more restrained style in dresses from Dior, Ralph Lauren, Elie Saab, Armani, Gucci, Carolina Herrera and Valentino, their decorations are not very modest.
According to the publication "People", the earrings and the ring from Lorraine Schwartz on the beauty of Sofia Vergara became the most expensive decorations of the ceremony. A more modest price was a necklace on Jessica Alba from Harry Winston, which is estimated at $ 5.8 million.
Kolkata, a three-day fair of precious stones and jewelry of the B2B format was held, designed to draw the attention of the general public to Bengali jewelers who produce gold jewelry, Israelidiamond.co.il reported referring to Diamond World.
At the trade event registered from 7,000 to 8,000 visitors from all over India and foreign countries. Jewelers from Delhi, Mumbai, Gujdarat, Bangalore, Chennai, as well as Nepal, Singapore and Malaysia, had the opportunity to familiarize themselves with the products of Kolkata artisans.
Participants of the show hope that the presentation and marketing of their products in this form provides an attractive platform for acquaintance with jewelry products and creates opportunities to expand the business, the valuation of which may exceed $ 50 billion.
Another factor that may influence the transformation of the local jewelry industry is the government-funded construction of a technology park of the jewelery and jewelry industry with an area of 28,000 square meters. meters in the Ankurhati area. The cartel of jewelers is already located on this square, and in general the project assumes support of business of any scales. Reducing production costs of Bengal jewelers will certainly increase interest in the local industry.
At the trade event registered from 7,000 to 8,000 visitors from all over India and foreign countries. Jewelers from Delhi, Mumbai, Gujdarat, Bangalore, Chennai, as well as Nepal, Singapore and Malaysia, had the opportunity to familiarize themselves with the products of Kolkata artisans.
Participants of the show hope that the presentation and marketing of their products in this form provides an attractive platform for acquaintance with jewelry products and creates opportunities to expand the business, the valuation of which may exceed $ 50 billion.
Another factor that may influence the transformation of the local jewelry industry is the government-funded construction of a technology park of the jewelery and jewelry industry with an area of 28,000 square meters. meters in the Ankurhati area. The cartel of jewelers is already located on this square, and in general the project assumes support of business of any scales. Reducing production costs of Bengal jewelers will certainly increase interest in the local industry.
The Israeli Diamond Exchange (IDE) plans to hold the first International Rough Diamond Week (IRDW) from March 9 to 13, according to a press release received by Rough & Polished via e-mail.
Within the framework of the five-day event, a series of various tenders for the sale of rough diamonds will be held. Among the companies exhibiting their goods for sale are ALROSA, De Beers Auction Sales, Rio Tinto Diamonds, I Hennig / Fusion Alternatives and Tzoffey's.
Deputy IDE President Arnon Juwal, who heads the IRDW organizing committee, said that to further develop Israel as a diamond center, it is necessary to increase the volume of trade in rough diamonds. "If we want to increase the production of diamonds, we must ensure a more significant inflow of rough diamonds. By creating and conducting regular events to encourage the organization of diamond auctions and tenders, we demonstrate our efforts to implement these tasks of the industry as a priority. "
Yuval noted that he received many positive feedback from diamond producers, traders and diamond manufacturers who are interested in participating in IRDW.
Within the framework of the five-day event, a series of various tenders for the sale of rough diamonds will be held. Among the companies exhibiting their goods for sale are ALROSA, De Beers Auction Sales, Rio Tinto Diamonds, I Hennig / Fusion Alternatives and Tzoffey's.
Deputy IDE President Arnon Juwal, who heads the IRDW organizing committee, said that to further develop Israel as a diamond center, it is necessary to increase the volume of trade in rough diamonds. "If we want to increase the production of diamonds, we must ensure a more significant inflow of rough diamonds. By creating and conducting regular events to encourage the organization of diamond auctions and tenders, we demonstrate our efforts to implement these tasks of the industry as a priority. "
Yuval noted that he received many positive feedback from diamond producers, traders and diamond manufacturers who are interested in participating in IRDW.
Organizers of the 18th Dubai International Jewelery Week (Dubai International Jewelery Week) reported that the event was attended by 23,964 people from 99 countries, reports Rapaport. In the Dubai Jewelry Week, 367 exhibitors took part. It is noted that local buyers, as well as wholesalers and retailers from other countries (Albania, Bahrain, Kosovo, Kuwait, Macedonia, Russia, Saudi Arabia, Oman and Turkey) ensured sales growth.
"We got excellent results at the fair this year. I believe that the Dubai jewelery market as a whole is growing, which has become one of the reasons for the influx of buyers from our stand, "said Shankar Ramanathan, head of marketing at La Marquise.
Diamond trader Michelle Buxani Panjwani of the Hong Kong company Temptations, exhibited at the Dubai Jewelry Week for the first time, said: "The sales results at the event exceeded our expectations, we sold goods worth over $ 2 million to buyers from Dubai, India, Kazakhstan and Russia ". She added that after this the company can consider the prospect of opening an office in Dubai.
The representative of the organizers of the event, Trixie LohMirmand, notes that the Dubai Jewelry Week of 2013 was a resounding success and he was pleased with the general positive feedback from exhibitors and visitors.
The 19th Dubai Jewelry Week will be held from 3 to 6 December 2014 at the Dubai World Trade Center.
"We got excellent results at the fair this year. I believe that the Dubai jewelery market as a whole is growing, which has become one of the reasons for the influx of buyers from our stand, "said Shankar Ramanathan, head of marketing at La Marquise.
Diamond trader Michelle Buxani Panjwani of the Hong Kong company Temptations, exhibited at the Dubai Jewelry Week for the first time, said: "The sales results at the event exceeded our expectations, we sold goods worth over $ 2 million to buyers from Dubai, India, Kazakhstan and Russia ". She added that after this the company can consider the prospect of opening an office in Dubai.
The representative of the organizers of the event, Trixie LohMirmand, notes that the Dubai Jewelry Week of 2013 was a resounding success and he was pleased with the general positive feedback from exhibitors and visitors.
The 19th Dubai Jewelry Week will be held from 3 to 6 December 2014 at the Dubai World Trade Center.
The increase in sales of gold and jewelry from it on the basis of the first week of the Dubai Trade Festival has reached a record value over the past seven years. Jewelers note, the market does not show signs of slowing and after fixing this record. In particular, during the first 11 days of the festival, gold and jewelry were sold 35 percent more than in the same period last year. As the general director of the Dubai Gold and Jewelery Group, Tomy Joseph, said, sales data turned out to be the best for the last seven years, Russian Jewelery Network reported with reference to DV-ROSS.
At the current Dubai trade festival, they sell an average of 250 kilograms of gold daily, while last year the average sales volume was 150-175 kilograms per day. At the same time, the available data on sales this year are not complete - not all participants of the festival reported their achievements, so the final result may be higher. According to experts, the Dubai site is very popular among gold buyers, thanks to a wide representation of sellers from around the world. In addition, there are practically no intermediaries and gold can be bought without additional margins. Many buyers perceive the purchase of precious metals as an investment.
So, light gold ornaments and commemorative coins are especially popular among buyers in Dubai. The majority of clients are from India, the Middle East and Europe.
At the current Dubai trade festival, they sell an average of 250 kilograms of gold daily, while last year the average sales volume was 150-175 kilograms per day. At the same time, the available data on sales this year are not complete - not all participants of the festival reported their achievements, so the final result may be higher. According to experts, the Dubai site is very popular among gold buyers, thanks to a wide representation of sellers from around the world. In addition, there are practically no intermediaries and gold can be bought without additional margins. Many buyers perceive the purchase of precious metals as an investment.
So, light gold ornaments and commemorative coins are especially popular among buyers in Dubai. The majority of clients are from India, the Middle East and Europe.
Brand Jared recently opened the store The Galleria Of Jewelry in New York, which became the 200th point of the jewelry retailer, reports Rapaport. The very first Jared store was opened 20 years ago in the city of Cuyahoga Falls, Ohio.
"We are proud of the success and growth of the Jared brand, and are very pleased that our guests continue to appreciate the range and unmatched service that they can get only in our stores," said Mark Light, CEO of Sterling Jewelers Inc. - American subsidiary of Signet Group. "Our new store has everything that makes the brand Jared special, and we will be happy to see the residents of Carle Place in it."
Jared stores sell diamonds, gold, colored gems and Swiss luxury watches in different price categories. Among the offered brands are Neil Lane Bridal and Neil Lane Designs, Open Hearts from Jane Seymour, Leo Diamond, Tolkowsky, Sea Magic Cultured Pearls from Mikimoto, LeVian and many others.
"We are proud of the success and growth of the Jared brand, and are very pleased that our guests continue to appreciate the range and unmatched service that they can get only in our stores," said Mark Light, CEO of Sterling Jewelers Inc. - American subsidiary of Signet Group. "Our new store has everything that makes the brand Jared special, and we will be happy to see the residents of Carle Place in it."
Jared stores sell diamonds, gold, colored gems and Swiss luxury watches in different price categories. Among the offered brands are Neil Lane Bridal and Neil Lane Designs, Open Hearts from Jane Seymour, Leo Diamond, Tolkowsky, Sea Magic Cultured Pearls from Mikimoto, LeVian and many others.
2014 will be one of the most important periods in the regulation of the circulation of minerals from the conflict zones of Africa, including gold. This year, legislation comes into effect that will affect thousands of jewelry companies that have a direct and indirect relationship to supplies to the US market. Also, standards are being developed that can affect jewelery suppliers in the markets of the EU countries. The consequences of these innovations will be discussed at a seminar that will be held on January 20 at the VICENZAORO Winter Exhibition in Vicenza, the press release received by Rough & Polished says.
The seminar titled "Legislation on conflict minerals in Europe and the US: how it affects the domestic jewelry business and exports" will be organized by Fiera di Vicenza, the Council for Responsible Jewelery Council, the World Jewelery Confederation CIBJO and Confindustria Federorafi. The seminar will be held on January 20, 2014 from 11:00 to 12:00 in the Palladio Room Fiera di Vicenza.
According to the rules for conflict minerals contained in Section 1502 of the Dodd-Frank Act, from 2014 onwards, companies registered on US stock markets, including major jewelry retailers, will be required to provide the Securities and Exchange Commission Exchange Commission) information on their supply chains. Using national or international standards of expertise, companies should clearly determine whether they are dealing with the supply of gold from the Democratic Republic of the Congo or neighboring countries.
Another legislative innovation is being developed in the EU zone: it is assumed that it will be based on existing regulations and guidelines, such as the OECD Due Diligence Guidance and the conflict minerals legislation in the United States.
The seminar titled "Legislation on conflict minerals in Europe and the US: how it affects the domestic jewelry business and exports" will be organized by Fiera di Vicenza, the Council for Responsible Jewelery Council, the World Jewelery Confederation CIBJO and Confindustria Federorafi. The seminar will be held on January 20, 2014 from 11:00 to 12:00 in the Palladio Room Fiera di Vicenza.
According to the rules for conflict minerals contained in Section 1502 of the Dodd-Frank Act, from 2014 onwards, companies registered on US stock markets, including major jewelry retailers, will be required to provide the Securities and Exchange Commission Exchange Commission) information on their supply chains. Using national or international standards of expertise, companies should clearly determine whether they are dealing with the supply of gold from the Democratic Republic of the Congo or neighboring countries.
Another legislative innovation is being developed in the EU zone: it is assumed that it will be based on existing regulations and guidelines, such as the OECD Due Diligence Guidance and the conflict minerals legislation in the United States.
According to preliminary government data, during November, with the beginning of the Christmas season, jewelry sales in the US rose by 9.1% on a year-on-year basis, and since the beginning of the year reached $ 72.6 billion, Rapaport reports. Sales of watches increased by 1.3%, amounting to $ 9.9 billion in 11 months. Meanwhile, the consumer price index for jewelry in November was stable, and the price index for watches grew by 3.9%.
At the same time, retail sales in US department stores in November fell by 4.3% to $ 17.47 billion. In the first 11 months, the drop was 5%, and total sales in department stores - $ 150 billion.
Retail sales for all categories of goods in November increased by 4.7% on a year-on-year basis, to $ 432.3 billion.
At the same time, retail sales in US department stores in November fell by 4.3% to $ 17.47 billion. In the first 11 months, the drop was 5%, and total sales in department stores - $ 150 billion.
Retail sales for all categories of goods in November increased by 4.7% on a year-on-year basis, to $ 432.3 billion.
The new Diamond Diamond exclusive exhibition will open on March 27, 2014 in Basel, Switzerland, Rapaport reported. At this event, the world's leading manufacturers and sellers will present the best diamond products.
The Diamond Show will be held in the legendary Markthalle building, located 300 meters from Basel Train Station. The show will also be open to private collectors and investors.
The diamond fair will create an innovative trading environment for buyers and sellers of diamonds and diamond jewelry, and visitors will have direct access to products of the highest quality from the 60 best manufacturers and dealers. A separate salon will be assigned to fantasy diamonds.
"Diamond Show is an event for serious buyers of diamonds, who are looking for the highest quality stones at the appropriate prices. We are proud that we can provide customers with an unprecedented opportunity to reach the most important manufacturers of diamonds and dealers, "said Mordy Rapaport, Rapaport's director of exhibition activities in this regard.
The Diamond Show, organized by the Rapaport Group, will run on Thursday and Friday March 27-28, as well as Sunday and Monday March 30-31. The exhibition-fair will be closed on Jewish Saturday, March 29, in accordance with the religious requirements of the organizers.
The Diamond Show will be held in the legendary Markthalle building, located 300 meters from Basel Train Station. The show will also be open to private collectors and investors.
The diamond fair will create an innovative trading environment for buyers and sellers of diamonds and diamond jewelry, and visitors will have direct access to products of the highest quality from the 60 best manufacturers and dealers. A separate salon will be assigned to fantasy diamonds.
"Diamond Show is an event for serious buyers of diamonds, who are looking for the highest quality stones at the appropriate prices. We are proud that we can provide customers with an unprecedented opportunity to reach the most important manufacturers of diamonds and dealers, "said Mordy Rapaport, Rapaport's director of exhibition activities in this regard.
The Diamond Show, organized by the Rapaport Group, will run on Thursday and Friday March 27-28, as well as Sunday and Monday March 30-31. The exhibition-fair will be closed on Jewish Saturday, March 29, in accordance with the religious requirements of the organizers.
The next Istanbul Jewelry Show is scheduled from March 20 to March 23, 2014 and will be located in the six halls of the Istanbul Fair Center (CNR Expo) in an aggregate area of about 60,000 square meters. meters. The organizer of the event - UBM Rotaforte expects that at least 1,200 exhibitors from 25 countries will participate in the fair, Rapaport reports.
The Istanbul Jewelery Fair is supported by the Small and Medium Enterprises Development Organization (KOSGEB), the Jewelery Exporters' Association (JTR) and has been certified by the Union of International Fairs (UFI) and the ISO-9001 quality management system as an outstanding international trade event.
The exhibition halls will be equipped and grouped in such a way as to save time for visitors and increase the efficiency of exhibitors' sales. International pavilions at the fair will be organized by Hong Kong, Italy and Thailand.
The Istanbul Jewelery Fair is held twice a year. The last fair attracted almost 60,000 visitors and was attended by 1,700 exhibitors.
The Istanbul Jewelery Fair is supported by the Small and Medium Enterprises Development Organization (KOSGEB), the Jewelery Exporters' Association (JTR) and has been certified by the Union of International Fairs (UFI) and the ISO-9001 quality management system as an outstanding international trade event.
The exhibition halls will be equipped and grouped in such a way as to save time for visitors and increase the efficiency of exhibitors' sales. International pavilions at the fair will be organized by Hong Kong, Italy and Thailand.
The Istanbul Jewelery Fair is held twice a year. The last fair attracted almost 60,000 visitors and was attended by 1,700 exhibitors.
Israeli Diamond Exchange (IDE) organized a lecture on the topic of synthetic diamonds, at which the leaders of the Israeli diamond industry called for a clear and strict separation of natural and synthetic diamonds, repeating similar transparency declarations from other diamond trade centers , reports Rapaport.
"Diamant, caught at the sale of lots of natural diamonds mixed with synthetic diamonds, without corresponding disclosure of their origin, will be immediately excluded from the list of participants in the exchange," said IDE President Schmuel Schnitzer. "We can not hide from this problem or ignore it." Therefore, we started active actions, dealing with this issue in conjunction with the World Federation of Diamond Bourses (World Federation of Diamond Bourses) and the team of IDE lawyers.
Avraham Traub, president of Israel Diamond Manufacturers Association, said: "The diamond trade is based on trust and good faith, so it is extremely important that all who deal with synthetic diamonds openly announce this. I believe that violators should be fined for amounts 10 times higher than the corresponding amount of the transaction. We must preserve the integrity of our business and the trust of consumers. "
"Diamant, caught at the sale of lots of natural diamonds mixed with synthetic diamonds, without corresponding disclosure of their origin, will be immediately excluded from the list of participants in the exchange," said IDE President Schmuel Schnitzer. "We can not hide from this problem or ignore it." Therefore, we started active actions, dealing with this issue in conjunction with the World Federation of Diamond Bourses (World Federation of Diamond Bourses) and the team of IDE lawyers.
Avraham Traub, president of Israel Diamond Manufacturers Association, said: "The diamond trade is based on trust and good faith, so it is extremely important that all who deal with synthetic diamonds openly announce this. I believe that violators should be fined for amounts 10 times higher than the corresponding amount of the transaction. We must preserve the integrity of our business and the trust of consumers. "
Malabar Gold and Diamonds, a well-known jewelry retailer in South-East Asia, is hosting the third "Gold and Diamond Festival" in the Gulf and Singapore, which began on December 19, 2013 and runs through February 2, 2014. The festival gives its visitors the opportunity to win a total of 100,000 gold coins and one million dirhams in cash, which are issued immediately.
This festival differs from ordinary jewelry exhibitions and actions, as its slogan "Win Everything" indicates. In other words, every visitor gets a chance to become a winner. The festival, held by Malabar Gold and Diamonds, offers exclusive jewelry from gold, platinum, diamonds and other precious stones from different parts of the world to any wallet and for any occasion.
For each purchase of gold jewelry or diamonds in excess of 3,000 dirhams of the UAE, 3,000 Qatar riyals, 300 Oman riyals, 300 Bahraini dinars, 250 Kuwaiti dinars, 1,000 Singapore dollars, customers are awarded a coupon that is guaranteed to give them the right to receive a gold coin and a chance to win up to 100 gold coins in place. If this is a purchase of diamond jewelry, customers receive a coupon guaranteeing a refund of a portion of the cash with a chance of winning a refund to 100 percent of cash. Customers who buy diamond jewelry worth 3,000 dirhams from the UAE, 3,000 Qatar riyals, 300 Oman riyals, 300 Bahraini dinars, 250 Kuwaiti dinars, 1,000 Singapore dollars or higher are eligible to receive both coupons.
This festival differs from ordinary jewelry exhibitions and actions, as its slogan "Win Everything" indicates. In other words, every visitor gets a chance to become a winner. The festival, held by Malabar Gold and Diamonds, offers exclusive jewelry from gold, platinum, diamonds and other precious stones from different parts of the world to any wallet and for any occasion.
For each purchase of gold jewelry or diamonds in excess of 3,000 dirhams of the UAE, 3,000 Qatar riyals, 300 Oman riyals, 300 Bahraini dinars, 250 Kuwaiti dinars, 1,000 Singapore dollars, customers are awarded a coupon that is guaranteed to give them the right to receive a gold coin and a chance to win up to 100 gold coins in place. If this is a purchase of diamond jewelry, customers receive a coupon guaranteeing a refund of a portion of the cash with a chance of winning a refund to 100 percent of cash. Customers who buy diamond jewelry worth 3,000 dirhams from the UAE, 3,000 Qatar riyals, 300 Oman riyals, 300 Bahraini dinars, 250 Kuwaiti dinars, 1,000 Singapore dollars or higher are eligible to receive both coupons.
Against the background of the recent success of the second Israeli Diamond Week in New York, organized by the New York Diamond Dealers Club, the Israeli Diamond Exchange (IDE) has decided to announce the holding of the third American Diamond Week in Ramat Gan next spring, Israelidiamond.co reports. il. According to the management and members of the stock exchanges, the event in New York allowed to conclude a huge number of trade transactions. President of the Club of Diamond Dealers Reuven Kaufman and President of the Israeli Diamond Exchange Shmuel Schnitzer once again proved that the idea of holding such "weeks of diamonds" proved to be more than correct.
"This is an outstanding example of cooperation between the Diamond Dealers Club and IDE," said Momo Askenazi from Israel. "During these days I was able to establish important business relations with other dealers and manufacturers." According to Moshe David Reisz from New York, "The Israeli Diamond Week gave members of the Club of Diamond Dealers a unique opportunity to see an unusually wide range of goods." In general, the event was attended by about two hundred diamond traders from Israel and about a thousand of their New York colleagues.
Within the Israeli Diamond Week, the current and former IDE presidents Shmuel Schnitzer and Yair Sahar, as well as diamond industry analyst Chaim Even-Zohar, were accepted as honorary members of the Diamond Dealers Club. As the Israeli Diamond Exchange notes, the event was praised by the Mayor of New York, Michael Bloomberg (Michael Bloomberg), conveying his welcome speech through Reuven Kaufmann.
"This is an outstanding example of cooperation between the Diamond Dealers Club and IDE," said Momo Askenazi from Israel. "During these days I was able to establish important business relations with other dealers and manufacturers." According to Moshe David Reisz from New York, "The Israeli Diamond Week gave members of the Club of Diamond Dealers a unique opportunity to see an unusually wide range of goods." In general, the event was attended by about two hundred diamond traders from Israel and about a thousand of their New York colleagues.
Within the Israeli Diamond Week, the current and former IDE presidents Shmuel Schnitzer and Yair Sahar, as well as diamond industry analyst Chaim Even-Zohar, were accepted as honorary members of the Diamond Dealers Club. As the Israeli Diamond Exchange notes, the event was praised by the Mayor of New York, Michael Bloomberg (Michael Bloomberg), conveying his welcome speech through Reuven Kaufmann.
latest collection of jewelry under the name Kendra Scott LUXE, the first line created separately from seasonal collections of clothing, Rapaport reports.
In the new collection Kendra Scott LUXE there are bracelets, necklaces, earrings and rings, in the price range from $ 175 to $ 800. These products are available at all Kendra Scott retail stores, at kendrascott.com and neimanmarcus.com.
The LUXE collection features classic silhouettes characteristic of the Kendra Scott brand, combined with natural stones and sophisticated techniques, which best emphasizes the artistic value and natural beauty and color of the precious stones, the company said.
In recent months, the brand Kendra Scott has opened two new jewelry boutiques in San Antonio, Texas. The brand's products can also be found in the shops of the networks Neiman Marcus, Nordstrom, Bloomingdale and in various specialized boutiques all over the world.
In the new collection Kendra Scott LUXE there are bracelets, necklaces, earrings and rings, in the price range from $ 175 to $ 800. These products are available at all Kendra Scott retail stores, at kendrascott.com and neimanmarcus.com.
The LUXE collection features classic silhouettes characteristic of the Kendra Scott brand, combined with natural stones and sophisticated techniques, which best emphasizes the artistic value and natural beauty and color of the precious stones, the company said.
In recent months, the brand Kendra Scott has opened two new jewelry boutiques in San Antonio, Texas. The brand's products can also be found in the shops of the networks Neiman Marcus, Nordstrom, Bloomingdale and in various specialized boutiques all over the world.
Kalyan Jewellers, an Indian jewelry retailer, has made an impressive entrance to the UAE market, opening six outlets on December 26, 2013 - all in one day. The company has planned to invest in this business more than 2.5 billion rupees, which makes it the largest venture project ever promoted by the Indian company in the jewelry retail sector in the Emirates. Kalyan Jewellers will open salons in Abu Dhabi, Sharjah, Karam, Kusaise, Dubai and Mina Bazar.
Explaining the rationale for this mega-project, the chairman and managing director of Kalyan Jewellers TS. Kalyanaraman (TS Kalyanaraman) said that fundamental research for expanding business in the UAE has been underway for some time. "We believed that in this region a huge niche in terms of the market, the availability of products and the customer base," he said. Kalyan Jewellers has long ago changed the dynamics of jewelry retailing in India, opening large format salons that are rich in assortment, and the company intends to introduce this model also in the UAE.
All salons in the UAE have an average area of 5000 square meters. m on two floors. Each salon will have a special floor for diamonds - this is also done for the first time in the Emirates. Kalyan Jewellers will soon launch an advertising blitz company covering almost all media.
From its enterprises in the Middle East, Kalyan Jewelers expects to receive revenue of 200 million dirhams in the first three months ending March 31, 2014.
Explaining the rationale for this mega-project, the chairman and managing director of Kalyan Jewellers TS. Kalyanaraman (TS Kalyanaraman) said that fundamental research for expanding business in the UAE has been underway for some time. "We believed that in this region a huge niche in terms of the market, the availability of products and the customer base," he said. Kalyan Jewellers has long ago changed the dynamics of jewelry retailing in India, opening large format salons that are rich in assortment, and the company intends to introduce this model also in the UAE.
All salons in the UAE have an average area of 5000 square meters. m on two floors. Each salon will have a special floor for diamonds - this is also done for the first time in the Emirates. Kalyan Jewellers will soon launch an advertising blitz company covering almost all media.
From its enterprises in the Middle East, Kalyan Jewelers expects to receive revenue of 200 million dirhams in the first three months ending March 31, 2014.
The Israeli Diamond Exchange (IDE) on December 23 is carrying out an action aimed at raising funds for the benefit of the Israel Foundation for Handicapped Children (ILAN). The event will be held in the IDE complex in Ramat-Gan, according to a press release received by Rough & Polished.
The action, organized on the territory of the IDE, coincides with the nationwide ILAN fund-raising campaign, in which, with the assistance of the Israeli Ministry of Education, about ten thousand schoolchildren will go to their homes to collect donations for the oldest charitable organization.
"We started cooperation with ILAN last year, and the board of directors and IDE members are happy to continue working with this important charity," said IDE President Shmuel Schnitzer. "Although the contribution of the diamond industry to the Israeli economy is very significant, I believe that such a prominent industry as ours should also set an example of corporate and social responsibility.
The action, organized on the territory of the IDE, coincides with the nationwide ILAN fund-raising campaign, in which, with the assistance of the Israeli Ministry of Education, about ten thousand schoolchildren will go to their homes to collect donations for the oldest charitable organization.
"We started cooperation with ILAN last year, and the board of directors and IDE members are happy to continue working with this important charity," said IDE President Shmuel Schnitzer. "Although the contribution of the diamond industry to the Israeli economy is very significant, I believe that such a prominent industry as ours should also set an example of corporate and social responsibility.
Recently released by the Antwerp World Diamond Center (AWDC), trade statistics for the month show that November has become a pretty good month for trading in rough diamonds.
At the same time, statistics on the turnover of diamonds indicate a slight decrease in trade volumes compared to November 2012.
In the rough diamond segment, trade indicators in November were very positive, especially for exports, AWDC notes. The volume of exports of rough diamonds for the reporting month increased by 38.78% compared to November 2012. In terms of value, the growth was 23.44%. This growth was driven mainly by rising demand in India, which is the main importer of rough diamonds from Antwerp.
Imports of unpolished diamonds, on the contrary, declined by 3.95% in volume and 1.35% in value on a year-on-year basis.
At the same time, statistics on the turnover of diamonds indicate a slight decrease in trade volumes compared to November 2012.
In the rough diamond segment, trade indicators in November were very positive, especially for exports, AWDC notes. The volume of exports of rough diamonds for the reporting month increased by 38.78% compared to November 2012. In terms of value, the growth was 23.44%. This growth was driven mainly by rising demand in India, which is the main importer of rough diamonds from Antwerp.
Imports of unpolished diamonds, on the contrary, declined by 3.95% in volume and 1.35% in value on a year-on-year basis.
According to the market research of the Russian jewelry market, the annual growth rates of the market are about 10-15%, the Russian Jewelery Network reports. With the current consumption model, the market will be fully saturated in no more than 8 years. According to experts, currently the market is saturated only by one third, which indicates the possibility of accepting new players.
Among the companies leading were Adamas and Krastchemmet, which in 2012 sold about 11% of the total sales per year. In the jewelry market there is seasonality, so, the main sales volume in the retail market falls on the last decade of January and the period from February 23 to March 8.
One of the trends in the jewelry market is the increase in the share of Internet commerce. Psychologically, Russians are still wary of the possibility of buying goods through the online store, however, this segment shows a growing trend. If in 2010 the share of jewelery purchases through the Internet was estimated at 1%, today it is at least 2.5-3%.
Among the companies leading were Adamas and Krastchemmet, which in 2012 sold about 11% of the total sales per year. In the jewelry market there is seasonality, so, the main sales volume in the retail market falls on the last decade of January and the period from February 23 to March 8.
One of the trends in the jewelry market is the increase in the share of Internet commerce. Psychologically, Russians are still wary of the possibility of buying goods through the online store, however, this segment shows a growing trend. If in 2010 the share of jewelery purchases through the Internet was estimated at 1%, today it is at least 2.5-3%.
The Chinese Yinren Group will become the owner of the Antwerp Diamond Bank (ADB), which is the world's second-largest diamond bank. The transaction was announced by the Belgian financial group KBC, which includes ADB.
The amount of the transaction is not disclosed. Regulatory bodies still have to approve the purchase, Rosbalt reports with reference to Lenta.ru.
As part of the agreement, the ADB loan portfolio will be transferred to KBC Bank NV assets. In addition, after the deal is closed, KBC Group will provide ADB financing for 200 million euros for a minimum of two years.
Yinren Group is engaged in international trade, real estate, and also works on the diamond market.
Antwerp Diamond Bank was founded in 1934 and provides financing for diamond purchase and sale transactions.
The amount of the transaction is not disclosed. Regulatory bodies still have to approve the purchase, Rosbalt reports with reference to Lenta.ru.
As part of the agreement, the ADB loan portfolio will be transferred to KBC Bank NV assets. In addition, after the deal is closed, KBC Group will provide ADB financing for 200 million euros for a minimum of two years.
Yinren Group is engaged in international trade, real estate, and also works on the diamond market.
Antwerp Diamond Bank was founded in 1934 and provides financing for diamond purchase and sale transactions.
On the pre-holiday week, from December 16 to 22, shopping centers were visited by fewer buyers, which led to a decline in sales compared to last year's figures, according to Chicago-based analytical firm ShopperTrak. Attendance of stores fell by 21%, and sales decreased by 3.1%.
"Bad weather throughout the country kept customers from shopping. Last week was the last opportunity to make holiday purchases before Christmas. Retailers did not see as many buyers as last year, although many still completed their purchases, "said Bill Martin, founder of ShopperTrak.
Despite the greater number of discounts and promotions, sales on "Super Saturday" (Dec. 21) fell by 0.7%, and consumer traffic in stores - by 18% compared to last year.
"These figures are quite frightening," Martin commented in an interview cited by Bloomberg.
"Bad weather throughout the country kept customers from shopping. Last week was the last opportunity to make holiday purchases before Christmas. Retailers did not see as many buyers as last year, although many still completed their purchases, "said Bill Martin, founder of ShopperTrak.
Despite the greater number of discounts and promotions, sales on "Super Saturday" (Dec. 21) fell by 0.7%, and consumer traffic in stores - by 18% compared to last year.
"These figures are quite frightening," Martin commented in an interview cited by Bloomberg.
The US consumer price index (CPI) for jewelry in November 2013 remained generally stable, falling only 0.5% year-on-year to 176.16 points, Rapaport reports. The index was one and a half points lower than the average in October 2013. Record high CPI was registered in January 2012 and was 183.19 points. The average CPI for 11 months of the year (177.78 points) was 0.3% lower than the corresponding indicator for January-November 2012.
Taking into account the November data, the CPI exceeded the average of 170 points for 35 consecutive months, thus maintaining a steady trend towards inflation.
CPI for jewelry reached a record level of 183 points in early 2012, but after that, throughout 2012, prices for diamonds, gold and platinum declined. As of November, gold prices declined by about 27% on a year-on-year basis, and platinum fell in price by almost 15%.
In November, the RapNet diamond price index (RAPI) for certified 1 carat stones fell by 4.7% on a year-on-year basis, prices for diamonds of 3 carats decreased by 2.9%, and diamonds with a weight of 0.5 carats fell by 1 , 7%. Meanwhile, diamonds weighing 0.3 carats rose in price by 8.2%, according to RapNet.
Taking into account the November data, the CPI exceeded the average of 170 points for 35 consecutive months, thus maintaining a steady trend towards inflation.
CPI for jewelry reached a record level of 183 points in early 2012, but after that, throughout 2012, prices for diamonds, gold and platinum declined. As of November, gold prices declined by about 27% on a year-on-year basis, and platinum fell in price by almost 15%.
In November, the RapNet diamond price index (RAPI) for certified 1 carat stones fell by 4.7% on a year-on-year basis, prices for diamonds of 3 carats decreased by 2.9%, and diamonds with a weight of 0.5 carats fell by 1 , 7%. Meanwhile, diamonds weighing 0.3 carats rose in price by 8.2%, according to RapNet.
According to Thomson Reuters GFMS, the volume of silver imports to India in October reached 338 tons, which is 40% higher than the September figures - 241 tons, according to the Russian Jewelry Network referring to the portal Goldenfront.ru. In the first ten months of the year, 4,652 tons of silver were imported to the country. It is forecasted that the total volume of silver imports this year could reach 5,200-5,500 tons. Thus, the 2008 record will be broken down to 5,048 tons. The
demand for silver in India is driven by two factors. The first is low prices, which fell this year by almost 37%. The second is that more and more Indians are buying silver jewelry and coins as gifts for weddings and holidays instead of gold, the deficit of which is caused by government restrictions.
demand for silver in India is driven by two factors. The first is low prices, which fell this year by almost 37%. The second is that more and more Indians are buying silver jewelry and coins as gifts for weddings and holidays instead of gold, the deficit of which is caused by government restrictions.
before Christmas were not announced, it became clear that this holiday season was the most successful for jewelry retailers in recent years, the Israelidiamond.co.il portal reported citing edition of Business World.
If the outlined trend continues in the last week of the year, then the fourth quarter of 2013 will be the fourth consecutive period of the highest sales of gold jewelry in the US since 2010.
Consultants in this field note that, given the current figures in 2013, for the first time in the last ten years, gold sales will increase.
In absolute terms, the US demand for gold for the period from October to December 2013 will be from 44 to 48 tons, which shows an increase of 15-20%.
After a 12-year period of steady growth in the price of gold, this trend has finally been interrupted, and since the beginning of this year, gold has lost almost a third of the cost. Against the backdrop of a small recovery in the US economy and aggressive campaigns organized by gold jewelry retailers, this ensured high sales figures.
If the outlined trend continues in the last week of the year, then the fourth quarter of 2013 will be the fourth consecutive period of the highest sales of gold jewelry in the US since 2010.
Consultants in this field note that, given the current figures in 2013, for the first time in the last ten years, gold sales will increase.
In absolute terms, the US demand for gold for the period from October to December 2013 will be from 44 to 48 tons, which shows an increase of 15-20%.
After a 12-year period of steady growth in the price of gold, this trend has finally been interrupted, and since the beginning of this year, gold has lost almost a third of the cost. Against the backdrop of a small recovery in the US economy and aggressive campaigns organized by gold jewelry retailers, this ensured high sales figures.
2013 calendar year in Hong Kong, there was a sharp increase in diamond trade, Israelidiamond.co.il reported referring to the Israeli Diamond Exchange.
The diamond trade in the special administrative region of China-Hong Kong showed an increase of about 15% over the period from July to September 2013, while diamond trade grew by 50%.
Hong Kong's polished imports in the third quarter were $ 1.69 billion, showing an annual increase of 16%. Exports of polished diamonds from Hong Kong rose 15% to $ 3.09 billion
in the same period, while Hong Kong's imports of rough diamonds reached $ 469 million in the third quarter (up 47.5% on a year-on-year basis.) Exports of rough diamonds jumped 55.2% and reached $ 641 million.
Data on Hong Kong's trade statistics are provided by the Diamond Federation of Hong Kong.
One of the world's largest auction houses specializing in art and antiques - Bonhams - recently sold an exclusive diamond type IIa, priced at $ 2,629,000 in jewelry trades, reports the portal Diamond World.
It is reported that this precious stone, the pre-auction estimate of which was $ 2.63 million, went under the hammer for $ 8.2 million. The unedged diamond weighs 17.82 carats and has a diamond cut from a pear-shaped diamond.
Hundreds of people representing almost two dozen countries took part in the auction. Among the leading lots in the jewelry auction is a ring with a fantasy bright blue pear-shaped cut diamond weighing 1.12 carats, sold for $ 365,000, that is, three times higher than the pre-auction estimate, a ring with a fancy yellow diamond weighing 7.09 carats, gone under the hammer for $ 185 000, a 2.01 carat brown-pink diamond ring, sold for $ 155,000 - twice the original price, and a ring with a light yellow diamond weighing 7.79 carats, sold for $ 118,750.
It is reported that this precious stone, the pre-auction estimate of which was $ 2.63 million, went under the hammer for $ 8.2 million. The unedged diamond weighs 17.82 carats and has a diamond cut from a pear-shaped diamond.
Hundreds of people representing almost two dozen countries took part in the auction. Among the leading lots in the jewelry auction is a ring with a fantasy bright blue pear-shaped cut diamond weighing 1.12 carats, sold for $ 365,000, that is, three times higher than the pre-auction estimate, a ring with a fancy yellow diamond weighing 7.09 carats, gone under the hammer for $ 185 000, a 2.01 carat brown-pink diamond ring, sold for $ 155,000 - twice the original price, and a ring with a light yellow diamond weighing 7.79 carats, sold for $ 118,750.
Imports of polished diamonds in the United States in September 2013 rose by 12.7% on a year-on-year basis to $ 1.659 billion, while the average value of imported stones jumped by 28.8% to $ 1,661 per carat, Rapaport reports.
American polished exports for the month increased by 1.5% to $ 1.452 billion, so the net imports of polished stones reached $ 206 million, an increase from $ 42 million in September 2012.
Import of rough diamonds fell by 2.9% to $ 34 million, while exports remained virtually unchanged at $ 17 million. The net import of rough diamonds in the US was $ 17 million, compared to $ 18 million in the same period a year earlier.
The net US diamond account in September (the difference between net imports and exports) jumped by 271.7% on a year-on-year basis to $ 223 million.
In October, polished diamonds worth $ 2.221 billion were imported into the US, up 54.1% from October. The average cost of imported diamonds in October increased by 6.4% to $ 1,741 per carat.
Exports of polished diamonds from the United States in October 2013 increased by 35.4% to $ 1.517 billion, thus, net imports amounted to $ 705 million, up 119.6% from the corresponding figure registered in October 2012.
US imports of rough diamonds for October increased by 22.2% to $ 33 million, while exports jumped 65% to $ 33 million, leaving net imports zero, while the year before, net imports were estimated at $ 7 million. The US
clean diamond account in October grew by 114.9% to $ 705 million.
American polished exports for the month increased by 1.5% to $ 1.452 billion, so the net imports of polished stones reached $ 206 million, an increase from $ 42 million in September 2012.
Import of rough diamonds fell by 2.9% to $ 34 million, while exports remained virtually unchanged at $ 17 million. The net import of rough diamonds in the US was $ 17 million, compared to $ 18 million in the same period a year earlier.
The net US diamond account in September (the difference between net imports and exports) jumped by 271.7% on a year-on-year basis to $ 223 million.
In October, polished diamonds worth $ 2.221 billion were imported into the US, up 54.1% from October. The average cost of imported diamonds in October increased by 6.4% to $ 1,741 per carat.
Exports of polished diamonds from the United States in October 2013 increased by 35.4% to $ 1.517 billion, thus, net imports amounted to $ 705 million, up 119.6% from the corresponding figure registered in October 2012.
US imports of rough diamonds for October increased by 22.2% to $ 33 million, while exports jumped 65% to $ 33 million, leaving net imports zero, while the year before, net imports were estimated at $ 7 million. The US
clean diamond account in October grew by 114.9% to $ 705 million.
The president of the Israel Diamond Exchange (IDE), Shmuel Schnitzer, announced the launch of an IDE campaign aimed at raising awareness of 3,500 members of the world's largest diamond exchange about the effects of trade in unannounced synthetic diamonds (either deliberate or unintentional) a press release received by Rough & Polished by e-mail.
"Our industry is based on transparency, honesty and responsibility," said Schnitzer. - Thus, even a few unscrupulous foreign dealers who mixed synthetic diamonds in a batch of natural stones, giving them away for natural, caused a huge damage to the reputation of our entire industry! I personally and the IDE Council will do everything possible to protect the members of the exchange from this illegal activity that violates ethical standards, and at the same time are ready to disclose the names of those who are engaged in trading in undeclared synthetic diamonds if their guilt is proven. "
IDE Council Member Yoram Dvash, who heads the IDE Industrial Commission, said that although the Israeli market has not yet recorded incidents involving the trade in unannounced synthetic diamonds, this issue is very important. "Israel is one of the world's leading centers for diamond trade, so there are precious stones coming from all the world's diamond production centers, and we are highly exposed to these risks - the members of the exchange must be informed about this," said Dvash.
"Our industry is based on transparency, honesty and responsibility," said Schnitzer. - Thus, even a few unscrupulous foreign dealers who mixed synthetic diamonds in a batch of natural stones, giving them away for natural, caused a huge damage to the reputation of our entire industry! I personally and the IDE Council will do everything possible to protect the members of the exchange from this illegal activity that violates ethical standards, and at the same time are ready to disclose the names of those who are engaged in trading in undeclared synthetic diamonds if their guilt is proven. "
IDE Council Member Yoram Dvash, who heads the IDE Industrial Commission, said that although the Israeli market has not yet recorded incidents involving the trade in unannounced synthetic diamonds, this issue is very important. "Israel is one of the world's leading centers for diamond trade, so there are precious stones coming from all the world's diamond production centers, and we are highly exposed to these risks - the members of the exchange must be informed about this," said Dvash.
A sharp decline in the price of gold stimulated demand for gold jewelry, bullion and coins in China. Total gold consumption in China this year will exceed 1,000 tons, said a representative of the World Gold Council (WGC).
The deficit of gold supplies in China will reach 700-800 tons this year due to strong demand for gold in physical form.
"In addition to local gold production of 400 tons, it is projected that the total gold consumption in China will exceed 1,000 tons in 2013," Zheng Lianghao, managing director of the WGC Far East Division, said at a conference in Shanghai.
According to Zheng, in the third quarter, the demand for gold in physical form in China and India, the largest consumers of yellow metal in the world, remained high, despite the weakening investment caused by a sharp drop in gold prices.
Chinese demand this year jumped by almost 40% due to the growing interest in jewelry, bullion and coins, due to a sharp decline in gold prices.
The deficit of gold supplies in China will reach 700-800 tons this year due to strong demand for gold in physical form.
"In addition to local gold production of 400 tons, it is projected that the total gold consumption in China will exceed 1,000 tons in 2013," Zheng Lianghao, managing director of the WGC Far East Division, said at a conference in Shanghai.
According to Zheng, in the third quarter, the demand for gold in physical form in China and India, the largest consumers of yellow metal in the world, remained high, despite the weakening investment caused by a sharp drop in gold prices.
Chinese demand this year jumped by almost 40% due to the growing interest in jewelry, bullion and coins, due to a sharp decline in gold prices.
IBISWorld Inc. expects a slight increase in spending during the Christmas season and predicts an increase in retail sales of 3.4% in the year to $ 68.9 billion, reports Rapaport.
Christmas presents traditionally make up a huge article in the expenses of American families, accounting for about 77.3% of the total spending of consumers during the holiday period, estimated at $ 53.3 billion. However, IBISWorld believes that this year the average American family will cut its spending on the purchase of gifts and reduce the number of people close to whom they will be awarded.
At the same time, IBISWorld expects consumers to give preference to more valuable Christmas gifts, including a 7% increase in consumer spending on jewelry, up to $ 5.58 billion on a year-on-year basis.
If sales of jewelry products increase in accordance with the forecasts, the growth rate will be slightly less than the 8.8% increase in sales in American jewelry stores registered in the first nine months of 2013, according to Rapaport News.
According to IBISWorld, 111.7 out of 115 million American families will celebrate Christmas, which will spend 3.9% more for the festive dinner than last year.
Christmas presents traditionally make up a huge article in the expenses of American families, accounting for about 77.3% of the total spending of consumers during the holiday period, estimated at $ 53.3 billion. However, IBISWorld believes that this year the average American family will cut its spending on the purchase of gifts and reduce the number of people close to whom they will be awarded.
At the same time, IBISWorld expects consumers to give preference to more valuable Christmas gifts, including a 7% increase in consumer spending on jewelry, up to $ 5.58 billion on a year-on-year basis.
If sales of jewelry products increase in accordance with the forecasts, the growth rate will be slightly less than the 8.8% increase in sales in American jewelry stores registered in the first nine months of 2013, according to Rapaport News.
According to IBISWorld, 111.7 out of 115 million American families will celebrate Christmas, which will spend 3.9% more for the festive dinner than last year.
The All India Gems and Jewelery Trade Federation (GJF), the national trade organization to promote and promote the development of the Indian gem and jewelery industry, announced the holding of the National Jewelery Awards 2014 (National Jewelery Awards, NJA 2014 ). The National Jewelry Prize is considered the most prestigious competition in the jewelry industry, aimed at recognizing the talents, innovations and creativity of industry participants.
The NJA 2014 Award is divided into four major segments and 26 categories: the Retailers' Award (only for GJF members), the Jewelery Manufacturers Prize (GJF members only), the Jewelers Prize (open to all industry participants) and the Student Prize (for students, students in the institutes connected with jewels and jewels). In each category, the deadlines and procedure for evaluating applications are established in order to determine the winners most clearly and fairly.
The NJA 2014 Award is divided into four major segments and 26 categories: the Retailers' Award (only for GJF members), the Jewelery Manufacturers Prize (GJF members only), the Jewelers Prize (open to all industry participants) and the Student Prize (for students, students in the institutes connected with jewels and jewels). In each category, the deadlines and procedure for evaluating applications are established in order to determine the winners most clearly and fairly.
The Hong Kong-based jewelery company Luk Fook Holdings reported an increase in revenue of 70% year-on-year to $ 1.3 billion for the six months ended September 30, Rapaport reported. Net profit of the group for the reporting period jumped by 72% to $ 124.5 million.
Sharp revenue growth was due to good sales results of gold, very popular among buyers Luk Fook. According to the company, gold and platinum products accounted for 72% of its total sales. Gold sales particularly intensified in April and June, when world prices fell. The share of jewelry with precious stones accounted for 28% of sales revenue Luk Fook.
Retail sales of Luk Fook in Hong Kong, Macao and abroad showed an increase of 82% year-on-year to $ 1.11 billion. The wholesale division of the company registered revenue growth of 16% to $ 141.9 million. Sales of licensed partners increased by 3% to the company $ 41.6 million.
The group reported that total sales in comparable stores for the reported half-year increased by 62%. Sales of gold and platinum products in comparable stores jumped 87%, while jewelery sales with precious stones rose 16%.
Sharp revenue growth was due to good sales results of gold, very popular among buyers Luk Fook. According to the company, gold and platinum products accounted for 72% of its total sales. Gold sales particularly intensified in April and June, when world prices fell. The share of jewelry with precious stones accounted for 28% of sales revenue Luk Fook.
Retail sales of Luk Fook in Hong Kong, Macao and abroad showed an increase of 82% year-on-year to $ 1.11 billion. The wholesale division of the company registered revenue growth of 16% to $ 141.9 million. Sales of licensed partners increased by 3% to the company $ 41.6 million.
The group reported that total sales in comparable stores for the reported half-year increased by 62%. Sales of gold and platinum products in comparable stores jumped 87%, while jewelery sales with precious stones rose 16%.
IBM will work with leading Indian jewelry manufacturers and retailers to develop their information technology infrastructure and increase its level to ensure the production of world-class jewelry products.
Indian companies Thangamayil Jewelery (Madurai), Emerald Jewel Industries (Coimbatore), Dimexon Diamonds (Mumbai), Venus Jewels (Surat), and ACPL Exports (Agra) will introduce IBM Smarter Computing system to increase efficiency and expand production capacities.
IBM solutions will help jewelery companies build a highly scalable and efficient IT architecture that will subsequently enable them to improve production and operational processes within retail enterprises, and in turn help centralize the IT infrastructure and reduce costs.
IBM's head of sales in India and South Asia said: "We are looking forward to working together in the jewelry sector, and we understand the specific needs of this industry in India. The key challenge is to develop solutions that are simple, economical and cutting-edge. The jewelry sector is very closely connected with the processes, and the information and technological infrastructure can ensure its growth, productivity and higher profitability. Our solutions for consolidating the information infrastructure for the jewelry sector are gradually gaining wider recognition, more and more large enterprises want to use modern technologies. "
Indian companies Thangamayil Jewelery (Madurai), Emerald Jewel Industries (Coimbatore), Dimexon Diamonds (Mumbai), Venus Jewels (Surat), and ACPL Exports (Agra) will introduce IBM Smarter Computing system to increase efficiency and expand production capacities.
IBM solutions will help jewelery companies build a highly scalable and efficient IT architecture that will subsequently enable them to improve production and operational processes within retail enterprises, and in turn help centralize the IT infrastructure and reduce costs.
IBM's head of sales in India and South Asia said: "We are looking forward to working together in the jewelry sector, and we understand the specific needs of this industry in India. The key challenge is to develop solutions that are simple, economical and cutting-edge. The jewelry sector is very closely connected with the processes, and the information and technological infrastructure can ensure its growth, productivity and higher profitability. Our solutions for consolidating the information infrastructure for the jewelry sector are gradually gaining wider recognition, more and more large enterprises want to use modern technologies. "
The diamond brand Forevermark has chosen Mazzucchelli's company, owned by M. Suresh, the De Beers sightholder, as its exclusive authorized jeweler within the Australian provinces of Central Territory, South Australia, Victoria and Western Australia, Rapaport reports.
Mazzucchelli's joined the list of other authorized jewelers in Forevermark in Australia, including companies such as Diamonds International, Musson and Percy Marks, working with premium diamonds - for example, with cut diamonds produced by Crosswork Manufacturing, through its Australian representative, Storch & Co..
Each Forevermark diamond is marked with a special marking that proves that it was produced in compliance with high standards of ethics and responsibility, as well as the Forevermark logo and individual number.
By the Christmas season, the authorized Forevermark jewelers in Australia will release the first Forevermark collection called The Center of My Universe ™, in the design of which there will be a diamond solitaire Forevermark surrounded by diamonds-pave.
Mazzucchelli's joined the list of other authorized jewelers in Forevermark in Australia, including companies such as Diamonds International, Musson and Percy Marks, working with premium diamonds - for example, with cut diamonds produced by Crosswork Manufacturing, through its Australian representative, Storch & Co..
Each Forevermark diamond is marked with a special marking that proves that it was produced in compliance with high standards of ethics and responsibility, as well as the Forevermark logo and individual number.
By the Christmas season, the authorized Forevermark jewelers in Australia will release the first Forevermark collection called The Center of My Universe ™, in the design of which there will be a diamond solitaire Forevermark surrounded by diamonds-pave.
The largest online diamond jewelry retailer Blue Nile and the Nordstrom chain of stores have entered into an agreement to inspect and assemble the Blue Nile wedding jewelry at the main Nordstrom store in Seattle.
"We launched this program last month as a pilot project lasting 6 months. Customers can familiarize themselves with our goods and try on 75 types of wedding and 40 kinds of wedding rings worth up to $ 20,000, "the representative of Blue Nile told the Internet portal InternetRetailer.com.
Blue Nile, in cooperation with Nordstrom, gave consumers the opportunity to watch and sample selected specimens from the Blue Nile wedding collection before placing an order on the online retailer's website, as they understood the desire of many brides and grooms to see the wedding ring alive before purchasing it online.
"We launched this program last month as a pilot project lasting 6 months. Customers can familiarize themselves with our goods and try on 75 types of wedding and 40 kinds of wedding rings worth up to $ 20,000, "the representative of Blue Nile told the Internet portal InternetRetailer.com.
Blue Nile, in cooperation with Nordstrom, gave consumers the opportunity to watch and sample selected specimens from the Blue Nile wedding collection before placing an order on the online retailer's website, as they understood the desire of many brides and grooms to see the wedding ring alive before purchasing it online.
The company Gitanjali Jewels last week opened a new retail store in Hisar, which became the 105th outlet of Gitanjali. On the occasion of the grand opening, Gitanjali Jewels offered discounts for the purchase of diamond jewelry and gold, Rapaport reports.
"We are very pleased to open this store," Santosh Srivastava, Managing Director of Gitanjali Jewels, said. "We offer the best luxury jewelry at affordable prices, and customers in Hisara now have new opportunities for a unique shopping experience."
The partner of the jewelery company in Hisar, Ashwani Sardana, said: "Together we will provide our customers with the best offers of jewelry products, and I am unhesitatingly ready to assure that the residents of Hisar have an unrivaled experience in jewelry purchases."
Gitanjali Jewels creates jewelry that reflects the ethnic characteristics and traditional values of the Indian people, producing products under the brands Asmi, Nakshatra, D'damas, Gili, Diya, Parineeta, Sangini, Nizam, Ananya and Gitanjali gold.
"We are very pleased to open this store," Santosh Srivastava, Managing Director of Gitanjali Jewels, said. "We offer the best luxury jewelry at affordable prices, and customers in Hisara now have new opportunities for a unique shopping experience."
The partner of the jewelery company in Hisar, Ashwani Sardana, said: "Together we will provide our customers with the best offers of jewelry products, and I am unhesitatingly ready to assure that the residents of Hisar have an unrivaled experience in jewelry purchases."
Gitanjali Jewels creates jewelry that reflects the ethnic characteristics and traditional values of the Indian people, producing products under the brands Asmi, Nakshatra, D'damas, Gili, Diya, Parineeta, Sangini, Nizam, Ananya and Gitanjali gold.
American retailer Jewelry Exchange reported that sales in comparable stores in November rose by 13.7%, not revealing the final figures. Among the hits of November sales included certified diamond diamonds-1 carat solitaires, which the company offered at a price of $ 1,990, as well as new rings with 18-carat gold diamonds in a classic style, reports Rapaport.
The company explains the increase in sales volume by the release of new product lines and is now set to launch the full collection of Infinity for Christmas. Initially, the company planned to launch Infinity on Valentine's Day in 2014.
Ashkan Tahvildaran, head of design and production of Jewelry Exchange, said: "We have been developing the Infinity collection with great inspiration, because we like the association with diamonds, which symbolize eternity and infinity. We are very proud of the success of this collection, as well as other latest innovations to our product line. "
The company explains the increase in sales volume by the release of new product lines and is now set to launch the full collection of Infinity for Christmas. Initially, the company planned to launch Infinity on Valentine's Day in 2014.
Ashkan Tahvildaran, head of design and production of Jewelry Exchange, said: "We have been developing the Infinity collection with great inspiration, because we like the association with diamonds, which symbolize eternity and infinity. We are very proud of the success of this collection, as well as other latest innovations to our product line. "
Following the auction auction Christie's Magnificent Jewels, held December 10 in New York, sales revenue reached $ 65,790,125, IDEX Online reported.
In the auction for which 495 lots were auctioned, 86% of the total number of lots and 92% of the offered goods were sold at a cost.
A Golconda diamond weighing 52.58 carats in color D and IF purity was bought for $ 10.9 million, and a collection of jewelery with diamonds called Property of an Elegant Lady Lev Leviev went under the hammer for $ 10.2 million.
Based on the results December auction, as well as previous jewelry auctions held in New York in April and October, the total revenue at the auction of Magnificent Jewels in 2013 was $ 193,823,950.
Christie's jewelry division head in America and Switzerland, Rahul Kadakia, said: "Starting with the historic sale of Princie diamond in April this year and ending with the sale of the Golconda diamond weighing 52.58 carats in color D and the purity of IF in New York , the current year was a stellar year for the Christie's New York jewelry auction
In the auction for which 495 lots were auctioned, 86% of the total number of lots and 92% of the offered goods were sold at a cost.
A Golconda diamond weighing 52.58 carats in color D and IF purity was bought for $ 10.9 million, and a collection of jewelery with diamonds called Property of an Elegant Lady Lev Leviev went under the hammer for $ 10.2 million.
Based on the results December auction, as well as previous jewelry auctions held in New York in April and October, the total revenue at the auction of Magnificent Jewels in 2013 was $ 193,823,950.
Christie's jewelry division head in America and Switzerland, Rahul Kadakia, said: "Starting with the historic sale of Princie diamond in April this year and ending with the sale of the Golconda diamond weighing 52.58 carats in color D and the purity of IF in New York , the current year was a stellar year for the Christie's New York jewelry auction
The British jewelery company Ingle & Rhode, which remains faithful to the principles of responsible trade and is proud to offer polished diamonds with all ethical standards, has created its first collection of engagement rings on the eve of Christmas, Rapaport reports.
The Ingle & Rhode collection includes 15 models of engagement rings made of gold and platinum that have certificates of "Fair Trade" or received as a result of a recycling, and decorated with diamonds from Canada and Australia with an exact provenance, as well as sapphires produced in Sri- Lanka.
The company recognizes that, although previously it was engaged in the development of jewelry design exclusively to order, now it has created this collection because of the huge demand of customers for mass-produced jewelry.
Tim Ingle, one of the founders of Ingle & Rhode, states: "We are very proud of our collection. Although we continue to successfully manufacture jewelry designs on order, we always had customers who wanted to be able to choose and purchase a finished ring, as well as customers who do not have time to wait for the ring to be made to order. We spent many months developing and manufacturing a collection that we hope will appeal to a wide range of customers. "
The Ingle & Rhode collection includes 15 models of engagement rings made of gold and platinum that have certificates of "Fair Trade" or received as a result of a recycling, and decorated with diamonds from Canada and Australia with an exact provenance, as well as sapphires produced in Sri- Lanka.
The company recognizes that, although previously it was engaged in the development of jewelry design exclusively to order, now it has created this collection because of the huge demand of customers for mass-produced jewelry.
Tim Ingle, one of the founders of Ingle & Rhode, states: "We are very proud of our collection. Although we continue to successfully manufacture jewelry designs on order, we always had customers who wanted to be able to choose and purchase a finished ring, as well as customers who do not have time to wait for the ring to be made to order. We spent many months developing and manufacturing a collection that we hope will appeal to a wide range of customers. "
Swiss watch exports rose 1.1% on a year-on-year basis to $ 2.5 billion (2.2 billion Swiss francs), Rapaport reported citing data from the Federation of the Swiss Watch Industry ). The increase in the total export of watches in terms of value was affected by the increase in the export of watches made of steel by 4.6%, as well as the sales of watches from platinum for the reporting month.
The export of watches grew by 1.6% in October to $ 2.289 billion (2.042 billion Swiss francs), while by the number of products, exports increased 1.4% to 2.79 million units. Exports of other watch products jumped 37% to $ 60.9 million (54.3 million Swiss francs).
The Federation explained that the export of Swiss watch products to Hong Kong in October remained stable, increasing only by 0.3% to $ 453.1 million (404.3 million Swiss francs), while exports to the US grew by 6% to $ 245, 3 million (218.9 million Swiss francs). Swiss watch exports to China fell 8.9% to $ 156.1 million.
The export of watches grew by 1.6% in October to $ 2.289 billion (2.042 billion Swiss francs), while by the number of products, exports increased 1.4% to 2.79 million units. Exports of other watch products jumped 37% to $ 60.9 million (54.3 million Swiss francs).
The Federation explained that the export of Swiss watch products to Hong Kong in October remained stable, increasing only by 0.3% to $ 453.1 million (404.3 million Swiss francs), while exports to the US grew by 6% to $ 245, 3 million (218.9 million Swiss francs). Swiss watch exports to China fell 8.9% to $ 156.1 million.
Petra Diamonds at the December tender sold two "exceptional" white diamonds weighing 126.4 and 91.5 carats, gaining more than $ 12 million for them.
The group said that a 126.4 carat stone was sold for $ 8.52 million, and more a small 91.5-carat diamond went under the hammer for $ 3.78 million.
Both diamonds were mined at the Cullinan mine located in South Africa, they are classified as diamonds of type IIa - the highest quality and color characteristics that this mine is famous for.
"The high prices received on the sale of these exceptional stones from the Cullinan project inspire confidence and confirm the forecast
The group said that a 126.4 carat stone was sold for $ 8.52 million, and more a small 91.5-carat diamond went under the hammer for $ 3.78 million.
Both diamonds were mined at the Cullinan mine located in South Africa, they are classified as diamonds of type IIa - the highest quality and color characteristics that this mine is famous for.
"The high prices received on the sale of these exceptional stones from the Cullinan project inspire confidence and confirm the forecast
International demand for fancy diamonds will grow, Sotheby's is confident in the auction house.
"At the international level, the demand for exceptional diamonds will continue to grow," the French newspaper Le Figaro quoted the representative of the auction house.
In November, at the auction Sotheby's for a record $ 74.1 million was sold diamond Pink Star. This stone of oval cut in weight of 59,6 carats, having exclusive color and cleanliness, became the most expensive precious stone from all earlier exposed on the auctions. In the same month at the auction Christie's went under the hammer brilliant pear-shaped cut orange orange The Orange, which was sold for $ 35.54 million.
According to the famous gemologist Bruno Pozzera (Bruno Pozzera), high auction prices for fancy diamonds are explained not only and not so much by their exclusivity. "Rarity itself does not justify astronomical prices. In my opinion, there is speculation, revaluation, "- says the expert.
"At the international level, the demand for exceptional diamonds will continue to grow," the French newspaper Le Figaro quoted the representative of the auction house.
In November, at the auction Sotheby's for a record $ 74.1 million was sold diamond Pink Star. This stone of oval cut in weight of 59,6 carats, having exclusive color and cleanliness, became the most expensive precious stone from all earlier exposed on the auctions. In the same month at the auction Christie's went under the hammer brilliant pear-shaped cut orange orange The Orange, which was sold for $ 35.54 million.
According to the famous gemologist Bruno Pozzera (Bruno Pozzera), high auction prices for fancy diamonds are explained not only and not so much by their exclusivity. "Rarity itself does not justify astronomical prices. In my opinion, there is speculation, revaluation, "- says the expert.
The exhibition of equipment, which took place from December 13 to December 15 and was the first such event in the country, was attended by leading local and international suppliers of equipment and technologies.
Speaking at the opening of the exhibition, Vipul Shah said: "I am pleased to welcome all the equipment for the precious stones and jewelery industry that we gathered at the debut exhibition, which we organized together with the SDA. This event is designed to introduce industry participants to the latest technological innovations and achievements of the jewelry sector. Previously, the equipment section occupied an important part at the IIJS annual fair, and IGJME is being organized to significantly expand the presence of well-known manufacturers of specialized equipment from India and from around the world and to present the latest technological achievements of the jewelry sector. "
Sri Saurabbhai Patel congratulated GJEPC and SDA on the successful implementation of the initiative to establish a regular exhibition of equipment in Surat. The scale and scope of the exhibitions in Gujarat has significantly expanded in recent years - we started with small exhibitions, and now such events take up an area of about 100,000 square meters. feet. We want to make Gujarat a major exhibition center and ensure the growth of the manufacturing sector, for this purpose, several associations were established that will hold exhibitions throughout the year. "
SDA President Dinesh Navadia said: "I would like to thank GJEPC for the fact that the IGJME exhibition is organized in Surat. The purpose of this exhibition is to ensure the expansion of ties between small and medium-sized diamond and jewelry manufacturers with its participants, and further improve the quality of products. Small and medium-sized companies will get the most tangible benefits, as they will have access to information about the availability and cost of equipment, ways to improve the quality of goods and the most efficient use of raw materials. "
Speaking at the opening of the exhibition, Vipul Shah said: "I am pleased to welcome all the equipment for the precious stones and jewelery industry that we gathered at the debut exhibition, which we organized together with the SDA. This event is designed to introduce industry participants to the latest technological innovations and achievements of the jewelry sector. Previously, the equipment section occupied an important part at the IIJS annual fair, and IGJME is being organized to significantly expand the presence of well-known manufacturers of specialized equipment from India and from around the world and to present the latest technological achievements of the jewelry sector. "
Sri Saurabbhai Patel congratulated GJEPC and SDA on the successful implementation of the initiative to establish a regular exhibition of equipment in Surat. The scale and scope of the exhibitions in Gujarat has significantly expanded in recent years - we started with small exhibitions, and now such events take up an area of about 100,000 square meters. feet. We want to make Gujarat a major exhibition center and ensure the growth of the manufacturing sector, for this purpose, several associations were established that will hold exhibitions throughout the year. "
SDA President Dinesh Navadia said: "I would like to thank GJEPC for the fact that the IGJME exhibition is organized in Surat. The purpose of this exhibition is to ensure the expansion of ties between small and medium-sized diamond and jewelry manufacturers with its participants, and further improve the quality of products. Small and medium-sized companies will get the most tangible benefits, as they will have access to information about the availability and cost of equipment, ways to improve the quality of goods and the most efficient use of raw materials. "
The Gems and Jewelery Export Promotion Council (GJEPC) has invited the government and international organizations, including the Kimberley Process (KP), to create a separate classification code for synthetic diamonds and diamonds in order to carry out the certification of artificial stones by analogy with natural.
This recommendation was developed against the backdrop of a sharply increased number of incidents associated with the mixing of undeclared synthetic diamonds with lots of natural stones that undermine the reputation of the Indian diamond industry.
ITC (HS) codes are better known as Indian Trade Clarification (ITC), they are based on the system of encoding import-export transactions.
Sanjay Kothari, representative of the Natural Diamond Monitoring Committee of the GJEPC (NDMC), said: "By February we expect to receive a detailed report on the synthetic polished diamond market. Up to this time, we have taken steps to separate synthetic diamonds and diamonds according to the ITC HS code and carry out their certification in analogy with natural stones. This will help us monitor the market for synthetic diamonds. Import of rough diamonds is not subject to duty, according to the ITC HS code issued by the Directorate General of Foreign Trade (DGFT). While imported natural diamonds have KP certification, including an indication of the country of origin, synthetic stones of such certification are not subject to certification.
According to preliminary data of the Indian Council for the Promotion of Gem and Jewelery Export Promotion Council (GJEPC), in November 2013, polished exports from India declined by 22% year-on-year to $ 1.104 billion. In terms of volume, exports decreased by 39% and amounted to 1.668 million carats.
Import of polished diamonds grew by 24% and reached 392.04 million dollars within a month. Net exports of diamonds, i. Exports exceeded imports by 36% to $ 712.8 million.
Imports of rough diamonds to India increased by 26% in November to $ 1.139 billion, while exports of rough diamonds decreased by 28% to $ 79.4 million. Net imports of diamonds, or the excess of imports over exports, jumped by 34% and amounted to $ 1,060 billion.
India's net diamond account for November, calculated as the difference between total exports and imports of diamonds and diamonds, fell to a deficit value of $ 347.3 million compared to a profit of $ 313.1 million a year earlier.
According to Rapaport News, Indian polished exports increased 22% to $ 19.383 billion in the first 11 months of 2013 and polished imports by 33% to $ 6.484 billion. Imports of rough diamonds rose 10% to $ 14.652 billion, while their exports - by 16% and reached $ 1.680 billion.
Import of polished diamonds grew by 24% and reached 392.04 million dollars within a month. Net exports of diamonds, i. Exports exceeded imports by 36% to $ 712.8 million.
Imports of rough diamonds to India increased by 26% in November to $ 1.139 billion, while exports of rough diamonds decreased by 28% to $ 79.4 million. Net imports of diamonds, or the excess of imports over exports, jumped by 34% and amounted to $ 1,060 billion.
India's net diamond account for November, calculated as the difference between total exports and imports of diamonds and diamonds, fell to a deficit value of $ 347.3 million compared to a profit of $ 313.1 million a year earlier.
According to Rapaport News, Indian polished exports increased 22% to $ 19.383 billion in the first 11 months of 2013 and polished imports by 33% to $ 6.484 billion. Imports of rough diamonds rose 10% to $ 14.652 billion, while their exports - by 16% and reached $ 1.680 billion.
De Deers' December site is estimated at $ 580 million, while the prices for goods and the cost of the boxes were relatively stable, Rapaport reports. The revenue figure from the December site is the highest since the first quarter of the year, as sightholders bought goods left over from the November site, and also intended to replenish stocks for their manufacturing enterprises. After the December site, the indicators of trade also improved in the secondary market.
A recent site also featured an additional product delivered in excess of the sightholder's applications submitted earlier.
Sightholders note that the goods purchased by them will allow them to maintain their activities for a fairly long period - until the next site, which will begin January 20, 2014.
"The buyers do not have enough diamonds, and they realized that they will not have a new opportunity to purchase the De Beers product before the first week of February - after the next site. So last week they bought more goods than usual, "said one of the sightholders from Mumbai. "The companies increased diamond production after the Diwali holiday, and there is not enough rough in the market."
Some of the interviewed participants suggested that tightening the rules of bank lending, which will come into force in 2014, also affected sightholders who bought more goods in December, while they have access to additional financing. ABN Amro Bank confirmed to Rapaport News agency that from January 1, 2014, it intends to reduce financing of purchases of rough diamonds from 100% to 70%, and therefore manufacturers will have to pay 30% of their purchases from their own funds.
David Johnson, who heads the De Beers department for communications with manufacturing companies, said that the increase in demand for rough diamonds in December was due to several factors, including the timing of the next site, the relatively low level of rough diamonds from diamond manufacturers, an increase in production activity after the Diwali holiday and an increase in demand for jewelry with diamonds in the fourth quarter of 2013.
A recent site also featured an additional product delivered in excess of the sightholder's applications submitted earlier.
Sightholders note that the goods purchased by them will allow them to maintain their activities for a fairly long period - until the next site, which will begin January 20, 2014.
"The buyers do not have enough diamonds, and they realized that they will not have a new opportunity to purchase the De Beers product before the first week of February - after the next site. So last week they bought more goods than usual, "said one of the sightholders from Mumbai. "The companies increased diamond production after the Diwali holiday, and there is not enough rough in the market."
Some of the interviewed participants suggested that tightening the rules of bank lending, which will come into force in 2014, also affected sightholders who bought more goods in December, while they have access to additional financing. ABN Amro Bank confirmed to Rapaport News agency that from January 1, 2014, it intends to reduce financing of purchases of rough diamonds from 100% to 70%, and therefore manufacturers will have to pay 30% of their purchases from their own funds.
David Johnson, who heads the De Beers department for communications with manufacturing companies, said that the increase in demand for rough diamonds in December was due to several factors, including the timing of the next site, the relatively low level of rough diamonds from diamond manufacturers, an increase in production activity after the Diwali holiday and an increase in demand for jewelry with diamonds in the fourth quarter of 2013.
Company Gitanjali Gems Ltd. reported a 24% drop in revenue, to $ 477.9 million (Rs 30.044 billion) in the second fiscal quarter ended Sept. 30, according to Rapaport. Net profit for the period fell 74% to $ 6.5 million (Rs 405.7 million), while financial expenses jumped 80% to $ 29 million (Rs. 1.8 billion).
The company notes that the Reserve Bank of India's measures aimed at reducing the import of gold had a negative impact on its operations.
"Due to the inaccessibility of gold supplies, Gitanjali continues to reorganize its activities, focusing on jewelry with diamonds and colored gems," said Gitanjali Gems chairman and managing director Mehul Choksi. "The company plans to provide revenues through the huge popularity of its brands and to replenish its portfolio with new brands specializing in luxury goods."
The distribution of income by product category reflects a 39% increase in sales of diamonds to $ 370.9 million (Rs 23.3 billion) and a drop in jewelry sales by 48% to $ 203.8 million (Rs 12.8 billion).
With the aim of increasing international sales, Gitanjali plans to replenish its range of products with precious stones, products made of platinum and silver.
The company notes that the Reserve Bank of India's measures aimed at reducing the import of gold had a negative impact on its operations.
"Due to the inaccessibility of gold supplies, Gitanjali continues to reorganize its activities, focusing on jewelry with diamonds and colored gems," said Gitanjali Gems chairman and managing director Mehul Choksi. "The company plans to provide revenues through the huge popularity of its brands and to replenish its portfolio with new brands specializing in luxury goods."
The distribution of income by product category reflects a 39% increase in sales of diamonds to $ 370.9 million (Rs 23.3 billion) and a drop in jewelry sales by 48% to $ 203.8 million (Rs 12.8 billion).
With the aim of increasing international sales, Gitanjali plans to replenish its range of products with precious stones, products made of platinum and silver.
Manufacturers of watches over the past two years have made transactions on mergers and acquisitions in excess of $ 1 billion, writes RBC Daily. Most of the deals fell on Swiss suppliers of parts and mechanisms. Analysts believe that this will lead to a rise in prices for watches and the ruin of small producers.
In the spring of this year, the French company Hermes International, which produces its watches in Switzerland, bought two-thirds of the local producer of watch cases Joseph Erard, writes The Wall Street Journal (WSJ). The deal was not disclosed, but it allowed Hermes to establish stable shipments for its Arceau Le Temps Suspendu line. "We want to secure our future deliveries of strategically important components," says Hermès watch company director Luc Perramond.
Similar deals were made by the main competitors of Hermes - Richemont and LVMH. Richemont spent about 80 million euros on the purchase of the Swiss manufacturer of casings Varin-Etampage, and LVMH acquired the supplier of dials ArteCad. Another significant player, Gucci Timepieces & Jewelry, bought the manufacturer of the Fabbrica Quadranti dials. The situation on the market was exacerbated by the resolution that Swatch Group received from Swiss regulators in October, limiting the supply of key components to its competitors. Swatch is the world's largest manufacturer of watch movements and parts. It is expected that the company will continue to reduce their supplies for mechanical watches next year and completely cease by 2020. Since 2011, when they first talked about reducing the supply from Swatch, watch manufacturers made acquisitions for a total of over $ 1 billion. Most of them were just suppliers of parts. Eight out of ten general directors from the watch industry said that the absorption will continue in the next year and a half, according to a poll by Deloitte.
In the spring of this year, the French company Hermes International, which produces its watches in Switzerland, bought two-thirds of the local producer of watch cases Joseph Erard, writes The Wall Street Journal (WSJ). The deal was not disclosed, but it allowed Hermes to establish stable shipments for its Arceau Le Temps Suspendu line. "We want to secure our future deliveries of strategically important components," says Hermès watch company director Luc Perramond.
Similar deals were made by the main competitors of Hermes - Richemont and LVMH. Richemont spent about 80 million euros on the purchase of the Swiss manufacturer of casings Varin-Etampage, and LVMH acquired the supplier of dials ArteCad. Another significant player, Gucci Timepieces & Jewelry, bought the manufacturer of the Fabbrica Quadranti dials. The situation on the market was exacerbated by the resolution that Swatch Group received from Swiss regulators in October, limiting the supply of key components to its competitors. Swatch is the world's largest manufacturer of watch movements and parts. It is expected that the company will continue to reduce their supplies for mechanical watches next year and completely cease by 2020. Since 2011, when they first talked about reducing the supply from Swatch, watch manufacturers made acquisitions for a total of over $ 1 billion. Most of them were just suppliers of parts. Eight out of ten general directors from the watch industry said that the absorption will continue in the next year and a half, according to a poll by Deloitte.
The All India Gems and Jewelery Trade Federation (GJF), in conjunction with the Gem and Jewelery Skill Council of India (GJSCI), has developed the STAR SCHEME program, the National System professional certification and remuneration of employees, aimed at training sales personnel of jewelry retailers.
The Star Scheme program was created to encourage the development of skills and skills of young workers. Within the framework of the program, young workers who have successfully passed approved training programs within the framework of the National Skill Certification and Monetary Reward Scheme (NSCMRS) scheme receive monetary compensation.
In India there are about 400,000 retail outlets and more than 1.5 million people working as sales specialists.
The Star Scheme program was created to encourage the development of skills and skills of young workers. Within the framework of the program, young workers who have successfully passed approved training programs within the framework of the National Skill Certification and Monetary Reward Scheme (NSCMRS) scheme receive monetary compensation.
In India there are about 400,000 retail outlets and more than 1.5 million people working as sales specialists.
Signet Jewelers Ltd, the largest specialized jewelry retailer in the US and UK, announced the results of the third financial quarter, which ended on November 2, 2013. US sales grew by almost 10% and exceeded $ 632 million.
"We are pleased with the results of the third quarter, which improved due to sales in Kay stores by 5.8%. I would like to thank all Signet employees for their contribution to the development of the company, "said Mike Barnes, CEO of the company.
Signet's total sales in the third fiscal quarter amounted to $ 771.4 million, which is $ 55 million, or 7.7%, more than the same period last year.
Aggregate online sales of the company reached $ 22.8 million and grew by $ 3.2 million, demonstrating an increase of 16%. The US accounts for $ 16.2 million (more than 70%) of sales made through the Internet.
"We are pleased with the results of the third quarter, which improved due to sales in Kay stores by 5.8%. I would like to thank all Signet employees for their contribution to the development of the company, "said Mike Barnes, CEO of the company.
Signet's total sales in the third fiscal quarter amounted to $ 771.4 million, which is $ 55 million, or 7.7%, more than the same period last year.
Aggregate online sales of the company reached $ 22.8 million and grew by $ 3.2 million, demonstrating an increase of 16%. The US accounts for $ 16.2 million (more than 70%) of sales made through the Internet.
The Directorate General of Foreign Trade of India (DGFT) plans to raise the norms of creating added value for gold jewelry in order to suppress circular deals with this metal.
In addition to the previously announced increase in duties on gold imports and the introduction of a commitment to the export dates of products made from it, DGFT believes that new measures should be developed to limit circular transactions. The Directorate of Revenue Intelligence has received many reports that traders mimic the changes allegedly made in imported gold in order to meet the requirements for exports. Then this gold is exported and re-imported. If fictitious exports can be stopped, then the import of gold will dry up.
Since this trend was noted mainly in the work with large jewelry, a proposal was put forward to raise the norms of creating added value for exported jewelry from the current 3% to 5%, official sources said. At present, this rule will not apply to lightweight jewelry.
In addition to the previously announced increase in duties on gold imports and the introduction of a commitment to the export dates of products made from it, DGFT believes that new measures should be developed to limit circular transactions. The Directorate of Revenue Intelligence has received many reports that traders mimic the changes allegedly made in imported gold in order to meet the requirements for exports. Then this gold is exported and re-imported. If fictitious exports can be stopped, then the import of gold will dry up.
Since this trend was noted mainly in the work with large jewelry, a proposal was put forward to raise the norms of creating added value for exported jewelry from the current 3% to 5%, official sources said. At present, this rule will not apply to lightweight jewelry.
According to preliminary data of the Indian Council for the Promotion of Gem and Jewelery Export Promotion Council (GJEPC), the export of diamonds from India in October 2013 grew by 56% compared to the previous year, reaching $ 2.155 billion. In terms of volume, exports grew by 18% and amounted to 3.623 million carats, reports Rapaport.
Indian diamond imports rose 53% in October to $ 585.22 million. Net exports of diamonds from India (the difference in exports and imports) increased by 56% to $ 1.57 billion.
Imports of rough diamonds to India in October 2013 fell 18% to $ 1.216 billion, while exports increased by 71% to $ 170 million. Net imports of diamonds (excess of imports over exports) decreased by 25% to $ 1,046 billion.
India's net diamond account for October (the difference in aggregate exports and imports of diamonds and diamonds) reached a positive value of $ 523.78 million compared to a deficit of $ 385.2 million a year earlier.
According to Rapaport News, in the first ten months of 2013, polished exports from India increased by 26% to $ 18.278 billion, and polished imports - by 33% to $ 6.092 billion. Imports of rough diamonds increased by 9% to $ 13.512 billion, and exports to 16% to $ 1.601 billion.
Indian diamond imports rose 53% in October to $ 585.22 million. Net exports of diamonds from India (the difference in exports and imports) increased by 56% to $ 1.57 billion.
Imports of rough diamonds to India in October 2013 fell 18% to $ 1.216 billion, while exports increased by 71% to $ 170 million. Net imports of diamonds (excess of imports over exports) decreased by 25% to $ 1,046 billion.
India's net diamond account for October (the difference in aggregate exports and imports of diamonds and diamonds) reached a positive value of $ 523.78 million compared to a deficit of $ 385.2 million a year earlier.
According to Rapaport News, in the first ten months of 2013, polished exports from India increased by 26% to $ 18.278 billion, and polished imports - by 33% to $ 6.092 billion. Imports of rough diamonds increased by 9% to $ 13.512 billion, and exports to 16% to $ 1.601 billion.
Net profit of the world-famous jewelry company Tiffany & Co. by the end of February-October this year grew by 20% and amounted to approximately $ 285 million, earnings per share for the quarter exceeded forecasts of analysts, it follows from the company's press release.
Net profit in terms of one ordinary share for the reporting period was $ 2.23 compared to $ 1.87 per share for the nine months of 2012-2013 fiscal year, PRIME reports.
Sales of Tiffany for the period increased by 7% and amounted to $ 2.7 billion. Sales in the Americas grew by 1%, in the Asia-Pacific region - by 14%, in Europe - by 6%, while sales in Japan fell by 9%.
Tiffany's net profit for the quarter increased 50% to $ 94.6 million. Earnings per share were $ 0.74 compared to $ 0.5 for the same period last fiscal year, while the company's sales grew 7% to $ 911 million. Meanwhile, analysts expected earnings of $ 0.58 per share and revenues of $ 888 million.
Net profit in terms of one ordinary share for the reporting period was $ 2.23 compared to $ 1.87 per share for the nine months of 2012-2013 fiscal year, PRIME reports.
Sales of Tiffany for the period increased by 7% and amounted to $ 2.7 billion. Sales in the Americas grew by 1%, in the Asia-Pacific region - by 14%, in Europe - by 6%, while sales in Japan fell by 9%.
Tiffany's net profit for the quarter increased 50% to $ 94.6 million. Earnings per share were $ 0.74 compared to $ 0.5 for the same period last fiscal year, while the company's sales grew 7% to $ 911 million. Meanwhile, analysts expected earnings of $ 0.58 per share and revenues of $ 888 million.
The US consumer price index (CPI) for jewelry in October 2013 slightly decreased by 0.4% on a year-on-year basis to 177.72 points, Rapaport reports. The index was three points below the average in September 2013. Record high CPI was registered in January 2012 and was 183.19 points. The average CPI value for the first ten months of the year (177.97 points) was 0.3% lower than the corresponding indicator for January-October 2012.
Taking into account the data for October, CPI exceeded the average mark of 170 points for 34 consecutive months, a stable trend towards inflation persisted.
CPI for jewelry reached a record level of 183 points in early 2012, but after that, throughout 2012, prices for diamonds, gold and platinum declined. As of October, gold prices fell by 27% on a year-on-year basis, and platinum fell in price by almost 13%.
In October, the RapNet diamond price index (RAPI) for certified 1 carat stones fell by 5.3% on a year-on-year basis, prices for diamonds of 3 carats decreased by 3.3%, and diamonds with a weight of 0.5 carats fell by 2 ,5%. Meanwhile, diamonds weighing 0.3 carats rose in price by 6.6%, according to RapNet.
The general index of consumer prices for all categories of products in September increased by 1% in the year-on-year terms and reached 233.81 points.
Taking into account the data for October, CPI exceeded the average mark of 170 points for 34 consecutive months, a stable trend towards inflation persisted.
CPI for jewelry reached a record level of 183 points in early 2012, but after that, throughout 2012, prices for diamonds, gold and platinum declined. As of October, gold prices fell by 27% on a year-on-year basis, and platinum fell in price by almost 13%.
In October, the RapNet diamond price index (RAPI) for certified 1 carat stones fell by 5.3% on a year-on-year basis, prices for diamonds of 3 carats decreased by 3.3%, and diamonds with a weight of 0.5 carats fell by 2 ,5%. Meanwhile, diamonds weighing 0.3 carats rose in price by 6.6%, according to RapNet.
The general index of consumer prices for all categories of products in September increased by 1% in the year-on-year terms and reached 233.81 points.
The Entice jewelry brand from the KGK group of companies presents a new initiative called SOLITAIRE FIESTA, which is a festival dedicated to the beauty of diamonds, which will last from December 12, 2013 to January 12, 2014.
Within the framework of the festival, in the three boutiques of the company, located in Delhi, Mumbai and Jaipur, exclusive gemstones will be exposed for everyone in all variety of fences, colors, sizes and purity.
In the collection of elite diamonds from Entice brand there is a wide assortment of uncorrected diamonds, necklaces, bracelets, and earrings, as well as a special series of diamond rings that meet the most demanding taste of connoisseurs of jewelry.
Within the framework of the festival, in the three boutiques of the company, located in Delhi, Mumbai and Jaipur, exclusive gemstones will be exposed for everyone in all variety of fences, colors, sizes and purity.
In the collection of elite diamonds from Entice brand there is a wide assortment of uncorrected diamonds, necklaces, bracelets, and earrings, as well as a special series of diamond rings that meet the most demanding taste of connoisseurs of jewelry.
The export of gold jewelery from India in October fell by 6.9% to $ 608.95 million, according to the Gems and Jewelery Export Promotion Council (GJEPC).
As part of efforts to reduce the trade deficit, India has taken measures to limit the import of gold, which had a significant impact on the jewelry sector. Among these measures was the requirement to ensure the subsequent export of 20% of imported gold in the form of jewelry products.
As part of efforts to reduce the trade deficit, India has taken measures to limit the import of gold, which had a significant impact on the jewelry sector. Among these measures was the requirement to ensure the subsequent export of 20% of imported gold in the form of jewelry products.
The Israeli company, which offers services to members of the diamond industry, has announced its new major achievement: it now owns and operates the largest private depository of valuables in China, Israelidiamond.co.il reports with reference to Diamond Intelligence.
Malca-Amit has opened a new storehouse, which can contain art, raw diamonds and diamonds, as well as other precious stones and metals. The specialized storage is located in the Waigaoqiao free trade area in Shanghai and is divided into five safes, which can hold up to 2,000 tons of gold. On the territory of the depository there is also a hall for demonstrating goods with an area of 340 sq. M. m., a meeting room and a hall for inspection and inspection of goods. The security system at this facility is organized taking into account the latest technological developments.
Malca-Amit has opened a new storehouse, which can contain art, raw diamonds and diamonds, as well as other precious stones and metals. The specialized storage is located in the Waigaoqiao free trade area in Shanghai and is divided into five safes, which can hold up to 2,000 tons of gold. On the territory of the depository there is also a hall for demonstrating goods with an area of 340 sq. M. m., a meeting room and a hall for inspection and inspection of goods. The security system at this facility is organized taking into account the latest technological developments.
The company Gitanjali Jewels recently opened a jewelry store in the Indian city of Jhansi, replenishing its retail network with the 104th outlet, reports Rapaport. Design and interior of the new store designed with the traditional values and ethnic characteristics of the region, particularly in the range of shops occupy a well-known brands, including Asmi, Nakshatra, D'damas, Gili , Diya, Parineeta, Sangini, Nizam, Ananya and Gitanjali gold .
On the occasion of the ceremonial opening of the Gitanjali Jewels store has prepared a number of special promotions and offers, operating when buying diamond jewelry and ornaments of gold.
On the occasion of the ceremonial opening of the Gitanjali Jewels store has prepared a number of special promotions and offers, operating when buying diamond jewelry and ornaments of gold.
The year of 2013 was marked by sign selling of diamonds at auctions, and this trend is likely to develop at the final this year auction of Christie's in New York, Forbes.com reports.
The international auction dm will put up for sale an impeccable diamond D color weighing 52.58 carats, obtained from a diamond mined at the famous mines of Golconda. The preliminary estimate of this diamond is $ 12.5 million. An
eight-corner diamond of "excellent cut" will become the leading of 500 lots presented at the auction of "Magnificent Jewels", which will be held December 10 at Christie's head office in Rockefeller Center.
It is expected that the total revenue at the auction will exceed $ 45 million. Some jewelry is auctioned by private collectors, including 4 lots of diamond jewelery created by Leviev. The most expensive of these ornaments will be a platinum ring with an impeccable cut diamond D cut, weighing 26.72 carats, a pre-auction estimate of $ 6 million.
The international auction dm will put up for sale an impeccable diamond D color weighing 52.58 carats, obtained from a diamond mined at the famous mines of Golconda. The preliminary estimate of this diamond is $ 12.5 million. An
eight-corner diamond of "excellent cut" will become the leading of 500 lots presented at the auction of "Magnificent Jewels", which will be held December 10 at Christie's head office in Rockefeller Center.
It is expected that the total revenue at the auction will exceed $ 45 million. Some jewelry is auctioned by private collectors, including 4 lots of diamond jewelery created by Leviev. The most expensive of these ornaments will be a platinum ring with an impeccable cut diamond D cut, weighing 26.72 carats, a pre-auction estimate of $ 6 million.
During the recent celebration of Diwali, jewelry sales fell.
Meanwhile, restrictions on the import of gold, set by the Indian government, were designed to mitigate the situation.
It becomes obvious that one should exercise caution when influencing costs and production, it is necessary to increase retail sales. Large companies can survive significant fluctuations, and small diamond manufacturers need to show extraordinary endurance. There are observations that while these companies behave bravely and resolutely.
The Council for the Promotion of the Export of Gemstones and Jewelry (GJEPC) and the leading Indian jewelery trade organizations closely monitor the development of the situation in order to ensure the positive development of the entire industry. Perhaps the answer to current problems is to promote innovation, and maybe in the inadmissibility of hasty action and systematic approach.
Meanwhile, restrictions on the import of gold, set by the Indian government, were designed to mitigate the situation.
It becomes obvious that one should exercise caution when influencing costs and production, it is necessary to increase retail sales. Large companies can survive significant fluctuations, and small diamond manufacturers need to show extraordinary endurance. There are observations that while these companies behave bravely and resolutely.
The Council for the Promotion of the Export of Gemstones and Jewelry (GJEPC) and the leading Indian jewelery trade organizations closely monitor the development of the situation in order to ensure the positive development of the entire industry. Perhaps the answer to current problems is to promote innovation, and maybe in the inadmissibility of hasty action and systematic approach.
Silver prices for the 10 months of 2013 averaged $ 24.51 per ounce, which is almost 21% below the corresponding figure for the same period last year, according to the mid-term review of the silver market of Thomson Reuters GFMS, Rapaport reports. GFMS predicts that the average price of silver for the year will be $ 24.24 per ounce.
GFMS notes that the dynamics of silver prices often reflect factors affecting the gold market, and also depends on the state of the industrial sector, and these trends will continue in 2014. As of November 15, gold prices fell 25% on a year-on-year basis, to $ 1,288.50 an ounce.
In the interim review of GFMS, it is reported that industrial and jewelry demand for silver in 2013 will grow by 6% compared to 2012.
Jewelery demand for silver is particularly high in rapidly developing countries, for example in India, where consumers are forced to move away from buying gold.
GFMS explains that the fall in silver prices is largely due to the same factors that affect the gold market, in particular the policy of the Federal Reserve, which encourages investors to move from safe assets to stocks.
However, GFMS notes that throughout the year capital outflows from gold exchange-traded funds were observed, while the assets of silver funds continue to grow and as of October 31 reached a record level of 655 million ounces.
GFMS notes that the dynamics of silver prices often reflect factors affecting the gold market, and also depends on the state of the industrial sector, and these trends will continue in 2014. As of November 15, gold prices fell 25% on a year-on-year basis, to $ 1,288.50 an ounce.
In the interim review of GFMS, it is reported that industrial and jewelry demand for silver in 2013 will grow by 6% compared to 2012.
Jewelery demand for silver is particularly high in rapidly developing countries, for example in India, where consumers are forced to move away from buying gold.
GFMS explains that the fall in silver prices is largely due to the same factors that affect the gold market, in particular the policy of the Federal Reserve, which encourages investors to move from safe assets to stocks.
However, GFMS notes that throughout the year capital outflows from gold exchange-traded funds were observed, while the assets of silver funds continue to grow and as of October 31 reached a record level of 655 million ounces.
The All India Gems and Jewelery Trade Federation (GJF), the national federation for the promotion and expansion of trade in gemstones and jewelry throughout India, sent a letter to the Minister of Finance, Mr. P. Chidambaram, in which she called for immediate reforms to return letters of credit and other instruments for buying gold on credit, to lift restrictions on advance payment and to carry out transactions with payment on delivery, and to reduce the import duty to 5%.
In a letter to the Minister of Finance, GJF chairman Haresh Soni stated: "When the import of gold is limited by the 80:20 scheme (20% of imported gold should be exported), there is no chance of an increase in imports until there is a growth in total exports. In this regard, we ask you to authorize the use of letters of credit ("gold loans") to jewelery manufacturers, wholesalers and retailers. This practice they adhered to the recent past. However, this scheme dominates in many countries due to the volatility of gold prices and is intended to support manufacturers, wholesalers and jewelry retailers, allowing them to provide working capital as a mechanism to protect against price fluctuations. "
"Secondly, because of the high duty on the import of gold in the country, smuggling is actively spreading, as recently reported by the media. We believe that the time is not far off when the sector will be managed by unscrupulous people and anti-social groups. This underground economy will damage and destroy the basis of our industry. Many entrepreneurs have invested heavily in creating infrastructure for the production of world-class jewelry. Such treatment of the jewelry sector will lead to huge economic losses and will cause unemployment.
In a letter to the Minister of Finance, GJF chairman Haresh Soni stated: "When the import of gold is limited by the 80:20 scheme (20% of imported gold should be exported), there is no chance of an increase in imports until there is a growth in total exports. In this regard, we ask you to authorize the use of letters of credit ("gold loans") to jewelery manufacturers, wholesalers and retailers. This practice they adhered to the recent past. However, this scheme dominates in many countries due to the volatility of gold prices and is intended to support manufacturers, wholesalers and jewelry retailers, allowing them to provide working capital as a mechanism to protect against price fluctuations. "
"Secondly, because of the high duty on the import of gold in the country, smuggling is actively spreading, as recently reported by the media. We believe that the time is not far off when the sector will be managed by unscrupulous people and anti-social groups. This underground economy will damage and destroy the basis of our industry. Many entrepreneurs have invested heavily in creating infrastructure for the production of world-class jewelry. Such treatment of the jewelry sector will lead to huge economic losses and will cause unemployment.
Japanese polished imports showed a 17.7% increase year-on-year, to $ 94.3 million, Momozawa said, citing statistics from the Ministry of Finance. Meanwhile, the volume of polished imports to Japan jumped 37% to 236,752 carats, and the average cost of imported stones fell 14% to $ 398 per carat.
Imports of polished diamonds from India declined by 5% year-on-year to $ 41 million. Imports of polished diamonds from Belgium increased by 20% to $ 19.5 million. Imports from Israel more than doubled to $ 13.2 million, while imports from Hong Kong jumped 97% to $ 7.5 million.
In the first nine months, Japanese polished imports declined 4% year-on-year to $ 648.2 million, while imports rose by 27% to 1,812 million carats.
Imports of polished diamonds from India declined by 5% year-on-year to $ 41 million. Imports of polished diamonds from Belgium increased by 20% to $ 19.5 million. Imports from Israel more than doubled to $ 13.2 million, while imports from Hong Kong jumped 97% to $ 7.5 million.
In the first nine months, Japanese polished imports declined 4% year-on-year to $ 648.2 million, while imports rose by 27% to 1,812 million carats.
The third jewelery exhibition Luxury China will take place at the Beijing Exhibition Center from 4 to 6 July 2014. Organizers promise to arrange this year's event a real storm of luxury.
The organizers of the exhibition have already launched a campaign to promote it. Many high-end luxury brands will continue their participation in Luxury China, as the previous exhibition produced a good effect. Italian, Swiss and Malaysian pavilions will continue to cooperate with Luxury China in 2014. Many foreign brands have developed their market in China through a platform provided by Luxury China. Organizers promise to invite to the exhibition more secured elite, purchasing managers and commercial intermediaries.
The event is organized with the participation of the China Chamber of International Commerce, the exhibition group Zhenwei Expo Group and with the active support of the Italian Embassy in China, the French Chamber of Commerce and Industry in China (CCIFC), bank HSBC, the Construction Bank of China (China Construction Bank) and other organizations. The exhibition Luxury China has become the most authoritative and influential platform for high-end brands, which are advertised in the Asia-Pacific region.
More than 300 brands from more than 20 countries and regions of the world, including America, France, Great Britain, Germany, Italy, Australia, Switzerland, Malaysia, etc. took part in the second Luxury China account. This Chinese exhibition attracted many rich people, because it offered all kinds of luxury goods in a pleasant and respectable environment under one roof, including jewelry, watches, clothing, furniture, works of art, wine, travel, overseas property and property. Only for three days of the exhibition sales turnover reached 900 million yuan (almost $ 150 million). Some categories, including jewelry, were sold almost completely.
The organizers of the exhibition have already launched a campaign to promote it. Many high-end luxury brands will continue their participation in Luxury China, as the previous exhibition produced a good effect. Italian, Swiss and Malaysian pavilions will continue to cooperate with Luxury China in 2014. Many foreign brands have developed their market in China through a platform provided by Luxury China. Organizers promise to invite to the exhibition more secured elite, purchasing managers and commercial intermediaries.
The event is organized with the participation of the China Chamber of International Commerce, the exhibition group Zhenwei Expo Group and with the active support of the Italian Embassy in China, the French Chamber of Commerce and Industry in China (CCIFC), bank HSBC, the Construction Bank of China (China Construction Bank) and other organizations. The exhibition Luxury China has become the most authoritative and influential platform for high-end brands, which are advertised in the Asia-Pacific region.
More than 300 brands from more than 20 countries and regions of the world, including America, France, Great Britain, Germany, Italy, Australia, Switzerland, Malaysia, etc. took part in the second Luxury China account. This Chinese exhibition attracted many rich people, because it offered all kinds of luxury goods in a pleasant and respectable environment under one roof, including jewelry, watches, clothing, furniture, works of art, wine, travel, overseas property and property. Only for three days of the exhibition sales turnover reached 900 million yuan (almost $ 150 million). Some categories, including jewelry, were sold almost completely.
Diamond in the Rough held a presentation of the Aria jewelry collection, consisting of rings, pendants and cufflinks, Rapaport reports. All products are made by hand, in the center of their composition is an uncut diamond in a simple frame of white, yellow, pink or black gold, designed to emphasize the beauty of a natural gem.
Similar to other collections of the Diamond in the Rough brand, the Aria design is designed to frame the diamond as the main part of the composition - the rim surrounds the diamond as the flower petals, emphasizing the natural beauty of the stone. All the rings from the collection are well combined with pendants in any set of the set.
The founder of the company Daniel Eskapa (Daniel Eskapa) personally deals with the selection of raw diamonds and together with his team develops a design of the frame, designed to show the nature and natural properties of the stone.
Similar to other collections of the Diamond in the Rough brand, the Aria design is designed to frame the diamond as the main part of the composition - the rim surrounds the diamond as the flower petals, emphasizing the natural beauty of the stone. All the rings from the collection are well combined with pendants in any set of the set.
The founder of the company Daniel Eskapa (Daniel Eskapa) personally deals with the selection of raw diamonds and together with his team develops a design of the frame, designed to show the nature and natural properties of the stone.
A 25-carat diamond mined at a mine off the coast of Namibia has become the most expensive lot on the Neiman Marcus Christmas online catalog and is for sale at a price of $ 1,850,000.
The Namibian reports that the Neiman Marcus group does not specify the date of discovery of this gemstone. According to the group, the buyer of this diamond will be offered a sea voyage off the coast of Namibia and visiting a place where a diamond was extracted from the ocean floor.
"As part of the trip, you will be able to visit the facilities for sorting raw diamonds, as well as familiarize yourself with the children's project in support of the development of local communities, which is provided by the Forevermark brand, which adheres to the principle of responsible procurement of rough diamonds," the report said.
The diamond buyer will be able to visit The Crown Jewels as part of an individual tour and have dinner with the CEO of De Beers Philippe Mellier and CEO Forevermark Stephen Lussier in London.
The Namibian reports that the Neiman Marcus group does not specify the date of discovery of this gemstone. According to the group, the buyer of this diamond will be offered a sea voyage off the coast of Namibia and visiting a place where a diamond was extracted from the ocean floor.
"As part of the trip, you will be able to visit the facilities for sorting raw diamonds, as well as familiarize yourself with the children's project in support of the development of local communities, which is provided by the Forevermark brand, which adheres to the principle of responsible procurement of rough diamonds," the report said.
The diamond buyer will be able to visit The Crown Jewels as part of an individual tour and have dinner with the CEO of De Beers Philippe Mellier and CEO Forevermark Stephen Lussier in London.
De Beers Auction Sales, which carries out auction sales of rough diamonds, introduced "forward contracts" for sale, through which De Beers Group customers are given the opportunity to secure a long-term supply at auctions.
The company's statement, e-mailed to Rough & Polished, says that the new offer will complement the usual auction sales with immediate delivery for cash.
The purchase price of the required amount of rough diamonds under the forward contract will be determined based on the price offer of the customer in relation to the spot price for the same type of goods at the auction, when the deadline for the performance of the contract, the Group reports.
At the first auction with the conclusion of forward contracts, held on Tuesday, registered customers of De Beers Auction Sales made applications for future supplies for a period of up to three months, the statement said.
Forward auctions with the opportunity to participate in bidding for future supplies of rough diamonds during the 12-month period will be introduced in 2014.
The company's statement, e-mailed to Rough & Polished, says that the new offer will complement the usual auction sales with immediate delivery for cash.
The purchase price of the required amount of rough diamonds under the forward contract will be determined based on the price offer of the customer in relation to the spot price for the same type of goods at the auction, when the deadline for the performance of the contract, the Group reports.
At the first auction with the conclusion of forward contracts, held on Tuesday, registered customers of De Beers Auction Sales made applications for future supplies for a period of up to three months, the statement said.
Forward auctions with the opportunity to participate in bidding for future supplies of rough diamonds during the 12-month period will be introduced in 2014.
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