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Rapaport Weekly Market Comment
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Polished sentiment positive following steady holiday sales. Strong interest in 0.30 ct., D-F, IF-VS1, but high-end 3 ct. and larger weak. Increasing rough demand raising polished-oversupply concerns as large quantities expected to enter market...
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Polished Markets
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Jan 23, 2020
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Rapaport News
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India: Chinese New Year Offering Some Optimism
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Polished slower than usual for this time of year. Dealers worried about repeat of 2019 diamond glut as they anticipate influx of rough following large De Beers and Alrosa January sales. Chinese New Year offering...
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Research
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Jan 23, 2020
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Rapaport News
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Research
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Jan 23, 2020
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Rapaport
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Research
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Jan 23, 2020
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Rapaport
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De Beers Plans Overhaul of Supply Policy
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De Beers plans to abandon its practice of using sightholders’ purchase history as the main factor in determining how it allocates rough supply, sources have told Rapaport News.The move, which would go into effect from 2021, would...
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Rough Markets
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Jan 23, 2020
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Joshua Freedman
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Gem Legacy Adds New Advisory Board Member
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Craig Danforth will join the advisory board of Gem Legacy, a nonprofit organization dedicated to supporting African colored-gemstone mining communities.Danforth, the vice president of client solutions for Jewelers Mutual Group, has more than 25 years...
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Mining
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Jan 23, 2020
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Rapaport News
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DelGatto and Koin Partner on Tender Financing
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DelGatto Diamond Finance will provide funding directly to customers of rough and polished tender operator Koin International. “All buyers can obtain financing,” DelGatto founder Chris Del Gatto told Rapaport News Wednesday. “It...
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Rough Markets
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Jan 23, 2020
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Leah Meirovich
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How to Sell Luxury Products to Millennials
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Millennial consumers are independent, vocal, tech-savvy and used to getting what they want. They have disposable income and aren’t afraid to spend it on things they believe add value to their lives, no matter the price...
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Retail
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Jan 22, 2020
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Leah Meirovich
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New Production Strategy Pays Off for BlueRock
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BlueRock Diamonds reported the first annual profit in its history, as sales grew amid increased production and a higher average price, the miner said Tuesday. The improvement was the result of a new initiative the...
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Mining
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Jan 21, 2020
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Rapaport News
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GIA Examines Alrosa’s Matryoshka Diamond
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Three months after Alrosa revealed its discovery of a diamond-within-a-diamond, the Gemological Institute of America (GIA) has proposed an explanation for how this mysterious phenomenon came about. The GIA’s team, which examined the stone...
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Mining
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Jan 21, 2020
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Rapaport News
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Holiday Sales Rise Amid Positive Sentiment
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US retail sales increased 4.1% during the recent holiday season amid steady consumer confidence, the National Retail Federation (NRF) said.Total sales for the November-to-December period were $730.2 billion, according to the NRF,...
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Retail
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Jan 20, 2020
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Rapaport News
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US Trade Continues to Downsize
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The US jewelry industry contracted in 2019 as the number of businesses closing shop continued to exceed new entrants.The sector shrank 3.3% to 24,565 companies active in the fourth quarter, compared with 25,400 a year earlier, according to data...
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Retail
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Jan 20, 2020
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Rapaport News
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JVC Honors GIA’s Susan Jacques
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The Jewelers Vigilance Committee (JVC) has presented Gemological Institute of America (GIA) CEO Susan Jacques with the Stanley Schechter Award.The accolade, which was established in 2002, recognizes industry leaders who have raised...
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Polished Markets
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Jan 20, 2020
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Rapaport News
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Luk Fook to Reduce Hong Kong Presence
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Luk Fook plans to scale back its Hong Kong store network and expand in mainland China and Macau, as events in the region have influenced consumer spending.The retailer expects a “single-digit” decrease in the number of rental...
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Retail
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Jan 20, 2020
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Rapaport News
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Alrosa Takes First Step Toward Reopening Mir
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Alrosa has begun drilling at its Mir mine to test whether reopening the deposit is economically viable.This phase, which it will carry out through 2021, will help define the mine’s dimensions and the quality...
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Mining
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Jan 20, 2020
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Rapaport News
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Bonhams Expands Global Jewelry Team
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Bonhams has hired Eleonora D’Ottavi in its latest effort to build up its global jewelry business.D’Ottavi will join the auction house as head of jewelry for Italy, responsible for providing valuation services and sourcing gems...
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Polished Markets
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Jan 20, 2020
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Rapaport News
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Chow Tai Fook Buys Chinese Retailer Enzo
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Chow Tai Fook has acquired Enzo Jewelry, a colored-gemstone brand with around 60 retail locations in mainland China.Enzo, founded in 2004, targets “modern, sophisticated and self-confident women who demand fashionable jewelry with a highly distinctive...
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Retail
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Jan 19, 2020
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Rapaport News
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GIA Suspends Sealing Service
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The Gemological Institute of America (GIA) has halted its diamond-sealing service after fraudsters tampered with packets and replaced stones with treated ones. A small number of packages were “compromised” after leaving the GIA...
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Polished Markets
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Jan 19, 2020
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Rapaport News
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Rio Tinto Lowers Outlook as Argyle Closure Looms
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Rio Tinto expects a decline in diamond production in 2020 as it reduces output at its Argyle mine in Australia, which is set to close in the fourth quarter.The company will produce between 12 million and 14 million carats for the year,...
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Mining
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Jan 19, 2020
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Rapaport News
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Robust Jewelry Sales Boost Richemont
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Richemont’s jewelry sales increased 9% in the third fiscal quarter as strong growth in Europe, the US and China offset weakness in Hong Kong.Jewelry proceeds from Cartier, Van Cleef & Arpels and Buccellati rose to EUR 2.16...
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Retail
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Jan 19, 2020
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Rapaport News
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