Diamond News Archives

(IDEX Online) - De Beers sales slowed at its March sight, down to $440m as pent-up demand appeared to flag.

In January the UK-based miner sold $650m of rough - a three-year high - followed by $550m in February. 

It has reportedly been increasing prices at recent sights at the midstream restocks, while maintaining flexibilities introduced to help holders earlier in the pandemic.

New supply contracts dividing sightholders into manufacturers, dealers and retailers will take effect at the next sight, in early May.

Bruce Cleaver, CEO, De Beers Group, said sales were in line with expectations during a traditionally quiet time of the year, but cautioned that the Covid specter still lingered. 

"With pandemic developments in Europe and Mumbai's recent lockdown resulting in the Bharat Diamond Bourse being closed, it is clear that we will continue to see challenges relating to Covid-19," he said.

Pic courtesy De Beers...

The Riksbank just published the results of the first phase of a pilot project into what is essentially the most advanced exploration of a post-cash era to be undertaken by a major, western economy. It says the rapid pace at which cash is disappearing presents “potential problems” that a digital currency controlled by a central bank can address.

(IDEX Online) - Rocksbox, the pioneering jewelry rental company, has been acquired by Signet, the world's largest retailer of diamond jewelry.

Signet says the move should help it reach new customers - primarily young women - following the success of its three-year Path to Brilliance recovery program.

 

Rocksbox, founded  by Meaghan Rose in 2012, provides subscribers with three rented pieces of fashion jewelry for $21 a month, based on their preferences, with free shipping and the option to buy any item outright.

The move allows Signet to expand into new lower-price territory. Most Rockbox items are valued at $50 to $150.

  

"Jewelry rental is complementary to our traditional offerings," said Virginia Drosos, Signet's chief executive in an interview.

The acquisition "provides an additional point of entry for self-purchasing women customers, a segment where Signet is currently under-developed, and is expected to help Signet continue extending its market share," said the company.

"With jewelry-rental subscription, Signet will tap into a highly engaged customer base, generate a new revenue stream, and bring yet another capability to its connected-commerce strategy, which is focused on serving customers whenever, wherever and however they want to engage."...

* Dollar hits near two-week low * U.S. job openings increased more than expected in February (New throughout, updates prices, market activity and comments) By Shreyansi Singh April 6 (Reuters) - Gold prices rose about 1% on Tuesday and hit the highest in more than a week...