News Archives

: Category: News Archives; Created: 22 May 2022; Hits: 1084

May 22, 22 by John Jeffay

(IDEX Online) - India could hugely increase its lab grown diamond production to support a "stronger and more self-reliant domestic cutting and polishing industry," says the GJEPC.

It currently produces around 1.5m carats, a distant second place to China's 3m carats (Bain/AWDC figures for 2021).

But Colin Shah (pictured), chairman of the Gems and Jewellery Export Council, says the lab grown industry has the potential to employ 1m people to process 150m carats of lab-grown diamonds and achieve an export turnover of $5.14bn in "the near future".

He was addressing government commerce official, who agreed to consider tax breaks for the importation of lab grown machinery.

Shah also outlined proposals for a production-linked incentives (PLI) scheme for factories investing at least $6m in lab growns.

India's cutting and polishing industry is currently being hit by severe rough shortages as sanctions and banking restrictions hit supplies from Russia....

Read more from our friends at IDEX

: Category: News Archives; Created: 21 May 2022; Hits: 1102

Well, the S&P officially entered bear market territory yesterday. How significant a development is this? Does this mean those waiting for a relief rally will be disappointed? Is now the "last chance to sell" before prices plunge further? Not necessarily. Financial advisor Lance Roberts lays out the probabilities and shares how his firm is trading the recent volatility.

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: Category: News Archives; Created: 20 May 2022; Hits: 1081

“If Stocks Are Going Limp, Bitcoin, Gold and Bonds Could Rule 2H — The propensity for Bitcoin to outperform most risk assets and gold most commodities, may play out in 2H, particularly if the stock market keeps succumbing to FederalReserve jawboning.”

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: Category: News Archives; Created: 20 May 2022; Hits: 1049

President Joe Biden’s approval rating dipped to the lowest point of his presidency in May, a new poll shows, with deepening pessimism emerging among members of his own Democratic Party. Only 39% of U.S.

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: Category: News Archives; Created: 19 May 2022; Hits: 1062

May 19, 22 by John Jeffay

(IDEX Online) - Alrosa's sales of high-value diamonds to wealthy investors in Russia have increased significantly since sanctions and hard currency restrictions were imposed.

The miner, part-owned by the government, launched its Diamond Exclusive program, in partnership with private banks, three years ago.

Instead of selling its largest and clearest fancy color stones and colorless gems over 3-cts at professional tenders, it is polishing them in Moscow for direct sale to investors.

In a statement to Tass, the state-runs news agency, Alrosa said: "Starting from March, interest towards this program has grown several times, as people looking for investment vehicles amid hard currency restrictions consider investing in diamonds similar to investing in gold."

In January, before Russia invaded Ukraine, Alrosa said it was planning to roll out the arrangement beyond Russia.

"Since our Russian experience demonstrated great interest in Alrosa diamonds by high net worth individuals, we plan to extend the program to the international market," Alrosa said at the time.

Meanwhile, Russia's Ministry of Finance is expected to relax rules governing the sale of rough and polished diamonds in the domestic market.

Generic pic of yellow diamonds...

Diamond News Archives

India's Future is Lab Grown, says GJEPC Boss

Weekly Market Recap: Is It Time To Sell?

Here’s Just A Couple of Reasons Why Bitcoin, Gold, and Bonds Might Dominate the Rest of 2022

Biden’s Approval Dips to Lowest of Presidency: AP-NORC Poll

Alrosa Sells More Diamonds to Russian Investors