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Global consumer demand for diamond jewellery hits new record high of US$82 billion

Category: News Archives
Created: 17 May 2018
Hits: 1897
Diamond Buyers Club

Global consumer demand for diamond jewellery hit a new all-time high in 2017, climbing to US$82 billion, a two per cent increase on the previous year, according to industry insight data published today by De Beers Group.

The US was the main driver of growth for the fourth consecutive year, where positive macroeconomics and strong consumer confidence saw demand for diamond jewellery increase four per cent to US$43 billion1, representing more than half of total global demand. An increase in self-purchase of diamond jewellery helped drive demand, representing 33 per cent of total US diamond jewellery pieces acquired in 2017.

Consumer demand in Mainland China, the world’s second largest consumer market for diamond jewellery, also returned to positive growth in 2017, reflecting the trend of the broader luxury goods sector. Demand increased three per cent in local currency and one per cent in US dollars, totalling US$10 billion. Growth was supported by strengthening macroeconomics towards the end of the year and a 20-year high in consumer confidence. In addition, there was a revival in the Hong Kong market in the second half of 2017, driven by both stronger local demand as well as a resurgence of Mainland visitor shopping.

Bruce Cleaver, CEO, De Beers Group, said: “People around the world are spending more on diamond jewellery than ever before and it’s encouraging to see consumers in the US, the world’s largest and most mature market, leading the way. While new designs and brand concepts played a key role in catching the consumer’s eye, it’s the timeless natural beauty, uniqueness and enduring value of diamonds that continues to resonate with people when looking to celebrate life’s special moments.”

Demand for diamond jewellery in the other main consumer markets of India, Japan and the Gulf...

Read more from our friends at Mining.com

Here Are 200 TRILLION Reasons Why Rising Yields Pose a Systemic Risk

Category: News Archives
Created: 17 May 2018
Hits: 1552

It’s a good thing that the BLS ignores things like the recent rise in real estate and gas prices when it generates its official inflation numbers…

Why?

Because if the BLS didn’t do this we might actually see that inflation is exploding higher.

This is not conspiracy theory, it is fact. And if you don’t believe me, consider what the homebuilder industry is saying about house prices.

While demand and homebuilding remain solid, the industry is not without its challenges. Construction companies cite a shortage of workers, rising costs for lumber and other building materials and a scarcity of available lots on which to start new projects. Affordability is also becoming a bigger issue as gains in property values outpace income growth and interest rates rise.

Source: Bloomberg.

What do you call it when an asset price that people need rises in value faster than their incomes?

It’s called inflation.

What about gasoline?

Sales at gasoline stations were up almost 12% in April compared to one year ago, reflecting a runup in oil prices that began last summer and accelerated in 2018. The cost of a barrel of oil has climbed above $70 from $45, and it could head higher still with the summer driving season straight ahead.

Put another way, Americans shelled out an extra $4.4 billion for gasoline last month than they did in April 2017, according the government’s latest report on retail sales.

Source: Marketwatch

What do you call it when oil prices rise rapidly resulting in higher energy costs for Americans?

It’s also called inflation.

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That Makes SEVEN Straight...

Read more from our friends at Gold & Silver

Consumer Demand For Diamond Jewelry Hits Record $82B

Category: News Archives
Created: 17 May 2018
Hits: 1927
May 17, 18 by Albert Robinson
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(IDEX Online) – Global consumer demand for diamond jewelry hit a new all-time high in 2017, climbing to $82 billion, a 2% increase on the previous year, according to industry insight data published by De Beers Group.<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>

 

The US was the main driver of growth for the fourth consecutive year, where positive macroeconomics and strong consumer confidence saw demand for diamond jewelry increase 4% to $43 billion, representing more than half of total global demand. An increase in self-purchase of diamond jewelry helped drive demand, representing 33% of total US diamond jewelry pieces acquired in 2017.

 

Consumer demand in Mainland China, the world’s second-largest consumer market for diamond jewelry, also returned to positive growth in 2017, reflecting the trend of the broader luxury goods sector. Demand increased 3% in local currency and 1% in US dollars, totaling $10 billion. Growth was supported by strengthening macroeconomics towards the end of the year, and a 20-year high in consumer confidence. In addition, there was a revival in the Hong Kong market in the second half of 2017, driven by both stronger local demand as well as a resurgence of Mainland visitor shopping.

 

Bruce Cleaver, CEO, De Beers Group, said: “People around the world are spending more on diamond jewelry than ever before and it’s encouraging to see consumers in the US, the world’s largest and most mature market, leading the way. While new designs and brand concepts played a key role in catching the consumer’s eye, it’s the timeless natural beauty, uniqueness and enduring value of diamonds that continues to resonate with people when looking to celebrate life’s special...

Read more from our friends at IDEX

North Korea summit threat used to hide nuclear weapons

Category: News Archives
Created: 17 May 2018
Hits: 1563

North Korea[1]’s abrupt threat this week to pull out of the upcoming summit with President Trump was highly calculated, according to intelligence officials who say Pyongyang[2] wanted to harden its negotiating position against a quick “Libya-style” surrender of its nuclear programs sought by the Trump White House and buy time to hide its nuclear weapons.

While U.S. officials say they believe Pyongyang[3]’s threat — conveyed so far only via state-controlled media — was also driven by North Korean leader Kim Jong Un’s need to show his domestic audience he won’t “roll over” to Mr. Trump, the development raised fresh questions about the scope of Pyongyang[4]’s nuclear operations and Mr. Kim’s willingness to abandon them.


While great uncertainty swirls around the extent of North Korea[5]’s nuclear infrastructure, U.S. officials and private analysts say Pyongyang[6]’s history of dragging out talks and inking agreements they have no intention of implementing is well known.


SEE ALSO: North Korea cancels talks with South, threatens to pull out of U.S. summit [7]


“The North Koreans have this belief they can somehow outsmart the U.S.,” said Anthony Ruggiero, a senior fellow at the Foundation for Defense of Democracies who is close with the Trump administration[8] and has past experience negotiating with Pyongyang[9].

“They may be attempting to sanitize their facilities right now while also trying to buy more time for that,” he said.

In a move that took both Washington and Seoul by surprise, Pyongyang[10] has seized on joint U.S.-South Korean military drills now underway as the justification to cancel a...

Read more from our friends at Gold & Silver

In Under 20 Years, All Currently Recoverable Gold Will Have Been Mined

Category: News Archives
Created: 17 May 2018
Hits: 1816

There are two constant challenges investors should charge themselves with time and time again: 1) Check your premises – Are the reasons you invested in something still as valid today as the day you first invested? And 2) Check your timeline.

The when is the great unknown of great investments. If you need ‘x’ to happen by ‘y’ date, what you’re doing is much more akin to gambling than investing. You’re guessing.

But if your premises are sound and you truly understand you don’t get to decide when your thesis is validated, you can come to view price stagnation and, even better, price declines, as your ally. Buying the same asset for cheaper than you did previously, all else remaining equal, means greater gains for you in the end.

The World Gold Council estimates that remaining reserves worldwide amount to just 30% of what's been mined already -- 54,000 metric tons of gold in sufficient concentrations, and buried at sufficiently accessible depths, to be mined at reasonable cost.

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At recent global production rates of roughly 3,100 metric tons per year, that means that in less than 20 years, all recoverable gold reserves worldwide (or at least those that can be recovered at a reasonable cost) should be depleted.

The sharp increase in production costs over just the last 15 years, combined with the inescapable math showing how quickly miners are churning through Earth's remaining recoverable gold reserves, suggests that in years to come, production costs could well begin rising again as the world runs out of unmined gold.

As long as gold producers are able to sell gold at prices above their cost of production (i.e., assuming the historical trend of gold pricing at a premium to...

Read more from our friends at Gold & Silver

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