As the economic recession increased its stronghold on consumers, plunging jewellery sales sent the diamond industry into a tail spin. At the onset of the slowdown, the industry seemed immune, as sales of top tier goods overshadowed the decline in mid-grade diamond sales.
Continue reading "A glimmer of hope for the diamond market"
Friday, February 6, 2009
Global diamond demand, which stood at 160-million carats last year, could fall to 120-million carats this year, a drop of 25%. For full story, click here
Continue reading "Global diamond demand to drop"
Tuesday, January 27, 2009
Diamond prices in a November tender were half the level achieved earlier in 2008, the company said. For full story, click here
Friday, December 12, 2008
The day after Thanksgiving has long been known as “Black Friday”, a moniker that denotes the fact that it is on that day that retailers go from being in the red, to the black. Many stores open as early as 4 am, coaxing shoppers through their doors with ‘once a year’ sales.
Continue reading "Did Black Friday come through for diamond retailers?"
Wednesday, December 3, 2008
Diamonds are the only commodity used in the jewelry industry with prices that are still above last year’s level. When compared to the U.S. stock market, diamonds have dramatically outperformed equities. For full story, click here
Continue reading "IDEX Online Research: Diamond Prices Hold Up"
Tuesday, December 2, 2008
Kopane Diamond Developments has announced that it intends to suspend production at its diamond mining plant in Lesotho in southern Africa after tumbling diamond prices put at risk the profitability of the operation. For full story, click here
Continue reading "Kopane suspends production in Lesotho as diamond prices tumble"
Tuesday, November 25, 2008
With the Christmas buying season upon us jewelry companies who would typically have their biggest sales of the year are bracing for disappointing numbers. A study completed this fall by the Harrison Group and American Express Publishing found that of all the luxury categories, jewelry could take the biggest hit in the downturn.
Continue reading "Holiday jewellery purchases decline"
Monday, November 24, 2008
In what can be described as a positive aspect of the global meltdown, following the credit crunch the world over, prices of all metals across the board have seen a dip due to a steep fall in demand. And so did it happen in case of diamonds – one of the costly desires of women [...]
Continue reading "Diamond prices down by 15 percent"
Thursday, November 20, 2008
Alrosa will continue to defend current rough diamond prices from downward pressure by holding back sales, and increasing inventories For full story, click here
Continue reading "Alrosa Defends Rough Diamond Price, Mining for Stocks"
Thursday, November 20, 2008
The diamond industry has decided to temporarily suspend all import of rough diamonds to limit the impact of the global meltdown on the industry. For full story, click here
Continue reading "No more diamond imports"
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Tuesday, April 7, 2009