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Coronavirus Updates: Impact on the Diamond Trade
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The Covid-19 pandemic that has swept the globe has had a notable impact on the diamond industry, with new developments unfolding every day. Here, we present a one-stop, running news feed on industry events impacted...
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Polished Markets
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Sep 29, 2020
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Rapaport News
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Diamond Sales Set for Resurgence – De Beers
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Both male and female US consumers are more likely to purchase and receive diamond jewelry over the next six months than they did during prior coronavirus waves, according to a De Beers survey.Women are also...
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Retail
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Sep 24, 2020
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Rapaport News
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Trend Report: Covid-19 Driving Move to Digital
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Las Vegas, September 24, 2020As the diamond industry begins its recovery from the initial impact of Covid-19, its once-lagging progress toward digital is being vastly accelerated. While this will not be a rapid transition...
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Polished Markets
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Sep 24, 2020
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John Costello
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De Beers Reduces Prices of Smaller Rough
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De Beers lowered prices of rough diamonds below 1 carat as the positive sales momentum that began last month continued during this week’s sight, sightholders told Rapaport News.The reductions for the September sight are...
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Rough Markets
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Sep 23, 2020
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Joshua Freedman
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Bond Actress Revealed as New Face of Diamonds
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The Natural Diamond Council (NDC) has unveiled actress Ana de Armas as the star of its first celebrity campaign, which will debut at next week’s Emmy Awards.De Armas recently received a Golden Globe nomination for...
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Marketing
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Sep 16, 2020
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Rapaport News
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De Beers August Rough Sales Rise to $320M
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Rough-diamond sales began to rebound at De Beers’ August sight as demand picked up ahead of the holiday season and governments reduced Covid-19 restrictions.“Diamond markets showed some continued improvement throughout August and September as Covid-19 restrictions continued...
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Mining
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Sep 13, 2020
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Rapaport News
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Sotheby’s Nixes Reserve Price on 102ct. Diamond
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Sotheby’s will offer a D-flawless diamond over 100 carats in Hong Kong next month, taking the unusual step of selling the stone without setting a reserve price.The oval-shaped, 102.39-carat, type IIa stone is one of only...
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Polished Markets
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Sep 10, 2020
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Rapaport News
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The Rough Market’s Window of Opportunity
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The price cuts that took effect in the rough-diamond market last month surprised some, but made perfect sense given the trends in polished trading and the recent earnings reports from De Beers and...
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Rough Markets
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Sep 08, 2020
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Rapaport News
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How to Redesign Stores so Customers Feel Safe
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Getting customers to shop post-lockdown has been difficult given financial constraints, and the fear of catching Covid-19 while out has only added to that challenge. While customers prefer shopping in physical stores, they will...
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Retail
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Sep 07, 2020
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Leah Meirovich
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Rough-Market Momentum Set to Continue
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The resurgence in rough-diamond trading will persist for another two months as manufacturers fill supply shortages and retail demand rises, dealers predicted.“There’s still a gap, because demand is there, and supply is very limited and...
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Rough Markets
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Sep 03, 2020
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Joshua Freedman
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Rising Polished Prices Boost Sentiment
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RAPAPORT PRESS RELEASE, September 1, 2020, Las Vegas… Diamond markets improved in August as governments eased Covid-19 restrictions and dealers sought to fill specific orders from jewelers. Indian manufacturers increased polished production to fill shortages...
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Polished Markets
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Sep 01, 2020
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Rapaport
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Kim Pelletier to Head Get Diamonds Platform
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The World Federation of Diamond Bourses (WFDB) has named Kim Pelletier as CEO of its Get Diamonds trading platform, it said Monday.Pelletier is a former vice president for sales and marketing at diamond-trading site Polygon. She was...
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Polished Markets
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Aug 31, 2020
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Rapaport News
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India Calls for Inventory Caution
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India’s major trade body has again urged members to avoid taking on unsellable diamond inventory, arguing that the industry’s recent improvement has been only partial.While polished demand is increasing and some categories are...
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Rough Markets
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Aug 26, 2020
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Rapaport News
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De Beers Cuts Prices at August Sight
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De Beers has reduced prices of rough larger than 1 carat ahead of next week’s sight amid a gradual improvement in demand and shortages in certain categories, sources said. The reductions are around 6% to 8%, according to sightholders and...
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Rough Markets
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Aug 20, 2020
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Joshua Freedman
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Diamonds Can Gain from Travel Industry Woes
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Discretionary spending on jewelry could increase as US consumers reallocate funds they would have used on travel, dining and other experiences prior to Covid-19, according to a De Beers report.“As some consumers find themselves with additional discretionary income...
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Retail
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Aug 20, 2020
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Rapaport News
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Mountain Province to Up Investor Sales Agreement
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Mountain Province plans to sell an additional $50 million worth of rough diamonds from its Gahcho Kué mine to Dunebridge Worldwide to help generate liquidity and bolster the company.The sale “will significantly strengthen the company's...
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Mining
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Aug 19, 2020
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Rapaport News
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What De Beers and Alrosa Clients Really Want
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Ask a De Beers or Alrosa contract client about the biggest problems with the miners’ age-old systems for selling rough, and the answer will probably include a comment on prices. High rough prices relative to polished...
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Rough Markets
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Aug 13, 2020
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Joshua Freedman
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Forevermark Debuts in New Zealand
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De Beers will launch its Forevermark diamond brand in New Zealand in partnership with local retailer Partridge Jewellers.Forevermark’s high-end Black Label collection will be available at three Partridge stores in Auckland, Wellington and Christchurch, De Beers said...
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Retail
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Aug 12, 2020
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Rapaport News
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To Speak Out, or Not to Speak Out?
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The killing of George Floyd at the hands of police in May and the subsequent protests split US society in a way that few other events have. While companies in all sectors have increasingly engaged in corporate activism in recent...
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Retail
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Aug 11, 2020
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Joshua Freedman
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Diamonds High on Holiday Gift Lists
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Consumers are showing strong interest in buying diamonds for their loved ones this holiday season, seeing a need to give something special following an uncertain year, according to a survey by De Beers.In the US, almost 60% of men...
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Retail
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Aug 11, 2020
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Rapaport News
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