Diamond News Archives

(IDEX Online) - Total sales of jewelry and watches in the US kept climbing in August, up by 9.3 per cent. That's the biggest monthly increase for four years. The July figure has been revised down from 9.0 per cent to 7.5 per cent, based on through-the-till transactions, rather than estimates.  Revised sales for June were actually slightly higher, up from 3.7 per cent to 3.9 per cent.

Three months of increase, from June to August, follow a record 50 per cent plunge in April - worse than the 1929 Wall Street Crash.

IDEX Online subscribers please click here^[1] for the full report....

(IDEX Online) - India's recovering diamond industry is reportedly running short of rough, as coronavirus restricts air travel.

Demand is growing but after three voluntary trade embargoes at the peak of the pandemic, the country's collective $2.7bn inventory is "almost exhausted".

Small and medium diamantaires in India can't get to South Africa or Belgium to physically inspect rough diamonds over a carat before agreeing purchases.  Many rely on twice-monthly visits to replenish supplies.

Vipul Shah, vice-chairman of Gem and Jewellery Export Promotion Council (GJPEC) told the Times of India newspaper: "International flight restrictions has cast a dark shadow on the prospects of the diamond industry in Surat and Mumbai."

She called on the government to allow the sale of rough diamonds in special notified zones (SNZs) to ease supply problems.

India's rough diamond imports were down 57 per cent in April to September from $5.8bn in the same period last year to $2.5bn....

Tom welcomes a new guest to the show Ted Butler to discuss everything silver market-related. Ted has been following these markets for thirty years and closely watched the Comex during that time.

Gold fluctuated before a Tuesday deadline for U.S. stimulus negotiations that may make or break chances for a pre-election aid package. Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi will make one more effort to patch up differences...