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Stornoway
Weakness in Low-Value Stones Hits Stornoway
Stornoway Diamond Corporation’s sales fell in the finalthree months of last year as weakness in the Indian market dented prices oflower-value rough from its Renard mine in Canada. Fourth-quarter proceeds dropped 35% to CAD 32.1 million($24.2...
Mining Jan 20, 2019 Rapaport News
Diamond & Loupe
Diamond Prices Slide Before Diwali Break
RAPAPORT PRESS RELEASE, November 6, 2018, New York… Polished-diamond prices softened in October as inventory levels rose ahead of the Diwali festival. Despite the decline, sentiment improved, with expectations growing for the US holiday season....
Polished Markets Nov 06, 2018 Rapaport
De Beers Sightholder Boxes
Indian Demand Weak at $475M De Beers Sale
Manufacturers were concerned about profitability at last week’s De Beerssight, and expressed hope their new supply agreement with the miner would easethe situation.De Beers had proceeds of $475 million during the October sales...
Rough Markets Oct 17, 2018 Joshua Freedman
IIJS 600
Weak Rupee Raises Hopes for Indian Exports
A weaker rupee againstthe US dollar has helped boost exports to leading markets such as the US andChina, attendees at the India International Jewellery Show (IIJS) reported. “The jewelry anddiamond and colored-gemstone business is flourishing,” Gaetano Cavalieri,president...
Mining Aug 13, 2018 David Brough
Jewelry store depressed
Diamond Prices Decline Amid India Liquidity Crisis
PRESSRELEASE, January 3, 2017, New York… Polished diamond prices softened inDecember as Indian liquidity dried up due to the government’s demonetizationpolicy eliminating 500 and 1,000 rupee notes. Trading slowed with dealerstaking vacation during the...
Polished Markets Jan 03, 2017 Rapaport
Polished Diamonds
Diamond Prices Firm Slightly with U.S. Optimism
PRESS RELEASE, December 6, 2016, New York … Diamond trading slowed in November as Indian liquidity dried up and manufacturing shut down for Diwali. U.S. jewelers completed their inventory purchases and focused on selling during the...
Polished Markets Dec 06, 2016 Rapaport
Rupee
India Clampdown on Black Cash Prompts Gold Rush
Gold and jewelry sales in India surged this week after the government imposed a surprise ban on 500- and 1,000-denomination rupee notes, forcing the country’s unaccounted money to be channeled into hard assets. “People are...
Retail Nov 10, 2016 Rapaport News
Rupee
Industry Reaction to a Weaker Rupee Remains Subdued
With India's rupee continuing to slide against the dollar, many in the trade are surprised that a weaker currency hasn't caused widespread havoc. In the past week, $1 bought between INR 63.8 to INR 64.2, up from...
Financial-Legal Jun 11, 2015 Zainab Morbiwala
Surat Factory Workers
Shivers of 2008
The statement published this week by India’s diamond industry had an unnerving, 2008 feel to it. While the Gem & Jewellery Export Promotion Council (GJEPC) fell short of stopping all rough imports to the country,...
Rough Markets Oct 04, 2013 Avi Krawitz
India Jewelry Consumer
CRISIL Notes 48% of Investment Grade Gem Firms are Clear of Economic Stress
India's gems and jewelry sector is not the industry that is most vulnerable to the economic issues plaguing the country, according to CRISIL's ''State of the Nation'' report. CRISIL defined the sources of economic stress as including...
Financial-Legal Sep 11, 2013 Jeff Miller
Rupee
Rupee Diamond Manufacturers
The rupee’s dramatic slide this week, and in the months before, is forcing India to refine its place in the diamond market. India’s large manufacturers ought to prosper from the depreciating currency while its trading...
Manufacturing Aug 30, 2013 Avi Krawitz
Rupee
Indian Rupee Hits Record Low Against the Dollar
August 28: The Indian rupee plunged to a record low of 68.75 to $1 on Wednesday as foreign investors fled the market, selling nearly $1 billion of shares in the past eight sessions. Despite appeals from India's Finance Minister, P. Chidambaram,...
Financial-Legal Aug 28, 2013 Avi Krawitz
India sign - iijs
Setting India’s Mood
The India International Jewellery Show (IIJS) tends to be a moody occasion. Scheduled in the heart of monsoon season, the show can be a frustrating experience for newcomers who have to navigate around the show’s poor infrastructure in often...
Polished Markets Aug 09, 2013 Avi Krawitz
Israel Diamond Exchange
Trading Down
It makes sense that diamond prices should go down when the market declines. The fact is the diamond industry has been cautious this month due to weakened Chinese and Indian economic sentiment. True enough,...
Polished Markets Jul 26, 2013 Avi Krawitz
India Jewelry Consumer
Indian Jewelry Shares Continue to Slide
Indian jewelry shares continue to slide this week as the weak rupee and recent slump in gold prices have impacted investor confidence in the sector.“The volatility of gold and the rupee dollar rate has hit...
Retail Jul 03, 2013 Avi Krawitz
Surat Factory Workers
GJEPC Warns Low Profit Margins Threaten Surat's Factories
India’s Gem & Jewellery Export Promotion Council (GJEPC) warned that Surat factories will soon start closing if manufacturing profit margins don’t improve. Anup Zaveri, a member of the GJEPC’s committee of administration, urged the...
Rough Markets Jun 20, 2013 Avi Krawitz
Jwaneng operation
De Beers June Sight Estimate at $540M
The De Beers June sight had an estimated value of $540 million and signaled cautious cutting center sentiment as the recent rupee depreciation has weighed on the Indian market and overall liquidity.“We felt that sentiment...
Rough Markets Jun 17, 2013 Avi Krawitz
Rupee
ASSOCHAM Forecasts a Stronger Rupee Ahead
The U.S. dollar is likely to drop below INR 50 in less than three months and then stabilize due to a host of policy reforms in India, the return of foreign institutional investors (FIIs) to the Indian stock market and...
Financial-Legal Sep 28, 2012 Dilipp S Nag
IIJS Day 1 2012
India Matters
The annual India International Jewellery Show (IIJS) has surprisingly set the tone for ‎what followed in the global diamond market in the past two years by going against the ‎grain of expectation. ‎In 2010,...
Polished Markets Aug 23, 2012 Avi Krawitz
Reserve Bank of India
RBI Relaxes Rules for Exporters on Converting Forex to Rupee
The Reserve Bank of India (RBI) backtracked somewhat on guidelines for exporters, currency exchange traders and authorized dealer category banks on converting foreign currency held in Exchange Earner's Foreign Currency (EEFC) accounts into rupee...
Financial-Legal Aug 02, 2012 Dilipp S Nag
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