NEWS

GJSCI Symposium IJES for two days scheduled!

GJSCI Symposium IJES for two days scheduled!

First ever GJSCI Symposium is being scheduled for two days in 2020, in Mumbai. According to the announcement, first ever ‘India Jewellery Excellence Symposium’ -IJES to be held on 8th and 9th January, 2020. This was announced in well organised press conference. During the press meet GJSCI’s Chairman Mr. Sanjay Kothari, ED & CEO Mr. Rajeev Garg and Director Mr. Shishir Nevatia were present along with Mr. Jitendra Mirwani, IJES Committee Member remained present.

 

GJSCI’s Chairman Mr. Sanjay Kothari said, “Santa Fe Symposium, which was on peak for past 33 years has almost come to an end, I anticipate IJES to make up the shortfall. IJES is a unique technical symposium being organized for the very first time in India, featuring the leading international and Indian Experts as speakers.

 


Lucapa achieves record production in 2019

Lucapa achieves record production in 2019

Lucapa Diamond Company Limited continued to drive production and operational efficiencies at the Mothae and Lulo mines in the December 2019 Quarter to counter the decline in global rough diamond demand, which has impacted prices and revenues for diamond producers.

 

While 2019 was a challenging year for all diamond producers in respect of sales prices, the year ended on a more positive note with a turnaround in mid-stream demand and prices - as evidenced in a number of rough diamond tenders and sales - and strong holiday season jewellery sales in America.


Debbie Azar launches of her blog!

Debbie Azar launches of her blog!

Gemological Science International (GSI), one of the largest gemological organizations in the world, is pleased to announce that its President and Co-Founder, Debbie Azar, has launched a blog, In Depth with Debbie. An industry expert, Ms. Azar will use the platform to share the knowledge she has acquired over her past 2 decades in the diamond industry. She is distinguished by her social demeanor, passion for business, and her commitment to meeting customer and industry needs.

 


DGCX Breaks Numerous Records in 2019

DGCX Breaks Numerous Records in 2019

The Dubai Gold & Commodities Exchange (DGCX) announced that it broke its annual volumes and Average Open Interest (AOI) records last year, making 2019 its most successful year since launch. The Exchange traded 23.06 million contracts in 2019-beating its previous record of 22.26 million contracts traded in 2018-with DGCX’s wholly-owned clearing house, the Dubai Commodities Clearing Corporation (DCCC) clearing over USD 866 billion in notional value.

 

DGCX also recorded its highest yearly AOI in 2019 with 324,803 contracts, up from 284,736 contracts in 2018. Open interest refers to the total number of outstanding contracts at the end of the trading day and is a strong indicator of an Exchange’s success.

 


Vicenza to present and discover the new collections

Vicenza to present and discover the new collections

RF Jewels was founded in Italy under the banner of innovation and craftsmanship. A studio-lab in the heart of Rome-where creations of rare beauty are generated as the result of study and workmanship that is straddles the ancient school and minimal state-of-the-art.

 

The main players are rare pearls and engraving techniques with gold, diamonds and other gems, timeless design, just like the priceless nature that it consists of.

 


Vicenzaoro to run through17th TO 22nd January

Vicenzaoro to run through17th TO 22nd January

For Italian Exhibition Group (IEG), 2020 will open in Vicenza on 17th January under the banner of strategies and actions to promote the gold-jewellery industry. In agenda, two exhibition giants: VOJ - Vicenzaoro January. The Jewellery Boutique Show and T-Gold, the international show for machinery and the most innovative technologies applied to jewellery and precious metal processing, both showcasing until the 22nd. But that’s not all.

 

“The business and innovation combination,” said IEG President, Lorenzo Cagnoni, “is indispensable and every edition of our events are always further enriched. In this case it will be with the brand new Vo Vintage event, an original exhibition dedicated to vintage watches and jewellery with unique items and some of the world’s most coveted rarities on display.

 



GTL certification program for eBay sellers

GTL certification program for eBay sellers

The Gem & Jewellery Export Promotion Council (GJEPC) commences the New Year with a significant initiative to add another layer of trust and credibility to Make in India products, sold across the world! In a strategic initiative, GJEPC-Gem Testing Laboratory (GTL), Jaipur, and global e-commerce company eBay signed one-of-its-kind agreement for a certification program for eBay sellers.

 

Under the agreement, GJEPC-GTL now offers certification services to eBay sellers at a nominal fee, specially arranged under this agreement, without compromising on existing standards and protocols of testing. This will facilitate eBay sellers to obtain authentic reports from GTL Jaipur before their gemstones are delivered to their buyers.

 



Jewelry sales lag behind consumer products!

Jewelry sales lag behind consumer products!

Four trends have the highest potential to impact the industry in the near term, 1: rapid growth of online sales channels, 2: increased marketing spending to support the natural diamond industry, 3: Developments in lab-grown diamonds and 4: an increased focuses on the environment and sustainability.

 

At just 5% to 10%, the share of online diamond jewelry sales lags behind other consumer products. However,

e-commerce is accelerating, and major diamond jewelry retailers in the US and China increased their online sales to 13% and 11%, respectively. Greater pricing transparency and retail stock optimization caused by           e-commerce will significantly affect demand and pricing for polished diamonds.

 


Diamond jewelry retail to decline in 2019

Diamond jewelry retail to decline in 2019

According to the latest Report, The Global Diamond Industry 2019 focuses on Diamond jewelry retail. Further the report says, the global personal luxury goods market, the bellwether of the diamond jewelry industry, experienced slower growth in 2018 and 2019.

 

The slump was caused by moderating global GDP growth, lower consumer confidence. Global diamond jewelry retail posted 2% sales growth in 2018, but sales are expected to decline by up to 2% in 2019, based on the results of the first three quarters.

 


Inventory backlog to clear by 2020!

Inventory backlog to clear by 2020!

The Global Diamond Industry 2019, the work was commissioned by AWDC and prepared by Bain & Company and AWDC. It is based on secondary market research, analysis of financial information available or provided to Bain & Company and AWDC, and a range of interviews with customers, competitors and industry experts! Key points of the Report are summarized as follow.

 

1: Short-term challenges caused mining and midstream revenues to shrink by 25% and 10%, respectively, in

2019. Near record-high rough diamond production in the beginning of 2019 was followed by lower-than expected demand for polished diamonds, causing a ripple effect through the supply chain.

 


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