NEWS

THE PROPORTION of consumers who have heard about lab-grown diamonds has risen to 80% in 2020, up from 58% two years ago, an MVI Marketing survey found.

Meanwhile,69% shoppers knew of specific brands that use lab-grown diamonds, compared to 49% in 2018. (Rapaport)

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 will be limited for a couple of months '' a sightholder said. Polished originating from rough bought in August won't hit the market until mid- October, as it takes around six weeks to complete the entire manufacturing and grading process, he explained. (Rapaport)

SHORTAGES have emerged in several polished categories as India's manifacturing sector shut down fromlate March until late May due to the coronavirus pandemic.

Those shortalls will remain for the coming months as continued Covid-19 restrictions mean polished production is at around 30% to 60% capacity, manifacturers said.

INDIA'S polished-diamond exports dropped 4% to $2.34 billion in February, as market weakness continued.

A slide in the volume of shipments outweighed a higher average price, according to data the Gem & Jewellery Export Promotion Council (GJEPC) released this week. Rough imports also decreased, indicating a slowdown in the manufacturing sector.

ALROSA sold $7.9 million worth of rough at a large-stone auction in New York, the Russian miner said Friday.

More than 90% of the diamonds on offer — each over 10.8 carats — found a buyer at the auction from September 17 to October 5, the company noted. A total of 1,300 carats, including a 108-carat white diamond and a 98-carat white diamond with yellow shading, fetched a combined average price of $6,077 per carat.

SIGNET Jewelers will consider selling synthetic diamonds at its stores if consumer demand justifies such a move, Ceo Gina Drosos said in a conference call with analysts.

We are very closely monitoring and assessing the demand for this emerging category,” Drosos said during the company’s earnings call last week. “We’ll make sure that Signet is well positioned to participate in that space if the growth and the economics of it are attractive and if customers point us in that direction.”

Lab-grown diamonds have garnered greater interest recently, after De Beers unveiled its Lightbox lab-grown-diamond jewelry brand in early June, and which is slated to start selling online this month. De Beers plans to forge partnerships with brick-and-mortar retailers to carry the collection in their stores in the next year or two, with growing speculation that Signet might be lining up to carry the collection

GRAFF Diamonds for $6.5 million on Monday at an auction in New York

Graff chairman Laurence Graff usually doesn't buy anything thats not a D or E color. Laurence Graff paid more money because he believes this diamond is a special diamond because it's going to help the poorest people in the world.

GOLD gains in Asia ahead of G7 meeting in Italy this weekend

Gold gained in Asia on Friday with a meeting of top finance officials from the world's leading economies at the weekend in Italy to discuss issues from trade to currencies. Gold for June delivery on the Comex division of the New York Mercantile Exchange rose 0.21% to $1,226.75.

Overnight, gold prices traded higher on Thursday, buoyed by a weaker dollar, despite the release of bullish economic data. Gold futures traded above eight-week lows amid political turmoil in Washington, after President Trump unexpectedly fired FBI chief James Comey but gains were capped by better than expected producer inflation and labor market data. The U.S. Labor Department said its producer price index, which measures inflation before it reaches the consumer, rose 0.5% in April, above expectations for a 0.2% increase. Meanwhile, the number of Americans who filed for unemployment insurance for the week ended May 6, dropped to 236,000, a more than 28-year low.

The bullish initial jobless claims report fuelled expectations that the Federal Reserve would hike its benchmark rate in June amid a tightening labor market. According to investing.com?s fed rate monitor tool, nearly 80% of traders expect the Federal Reserve to hike interest rates in June, compared to 63% in the previous week. U.S. Treasury yields, however, failed to reflect the uptick in sentiment concerning a June interest rate hike, as the U.S. 10-Year slipped 0.43% to 2.400. Gold is sensitive to moves higher in bond yields, which lift the opportunity cost of holding non-yielding assets such as bullion.

DIAMONDS of Yesterday, Today and Tomorrow

Designed in a contemporary  and haute couture style , Move Jewellery  is one of Messika's signature collections.  The three movable diamonds symbolize yesterday's, today's and tomorrow's love. Classic, Elegant and somewhat rock 'n' roll the Move Jewellery collection fulfils every desire and complements every look.  A daring combination of timeless allure and spectacular variations.

MONACO: House Of Fine Yachting

The 2017 Edition of the Monaco Yacht Show will underline the beginning of a new era as the show will celebrate its 25. edition. Over the four days of the show a total of 500 exhibitors will be present, and superyachts from 25 to 90 meters in lenght will be available for viewing, with many of them showcased in public for the very first time. The eye-catching luxurious views await  you at Port Hercules on 23 - 26 September.

LIFE Mirrors Art in Monaco

Being held this year for the sixth time, Art Monaco 2017 promises entertainment as well as art (it hosts a plethora of artists and art galleries).

Visitors can attend events, meet with numerous global business people or simply enjoy a wander around Monaco, one of the most prestigious destinations in Europa. If you don't want to miss this unique experience, save the date for july 9- 12

A UNIQUE Summer in Miami

It's worth seeing the city lights lining the Miami River in the evening. Downtown Miami is a glittering forest of  skyscrapers.

Take a stroll along the famous Ocean Drive familiar from myriad postcards and movies such as Scarface and pick up a restaurant.

You can enjoy the sea and the beach throughout the year in Miami. As you laze on South Beach, you can plan your evening by following the upcoming events touted by helicopters circling above.

Taste the seafood at Bubba Gump on Bayside where Forrest Gump (1994) was filmed.

THE LAP Of Luxury: Nice

With its back to the Alps and its fingers in the Mediterranean, Nice on France’s Côte d’Azur is the pearl of the Mediterranean. Home to numerous famous figures from Julius Caesar and Queen Victoria to Renoir and Picasso, the city has an interesting story. Approximately three thousand years ago, sailors setting out from Foça (Phocaea) near Izmir founded the city, which they named Nikaia for the war god Nike. In honor of its founders, one of the city’s most popular thoroughfares today is called the Avenue des Phoceens. Capital of the Duchy of Savoy in the 14th century, the city’s fate was in a sense determined by its air and water. Drawn by the Mediterranean’s limpid blue waters, pure air and sunny weather, European aristocratic families began building elegant mansions here. This rapid proliferation of palaces changed the face of the city, which was also a favorite with prominent Ottoman families at the end of the 19th century. A typical example today is Lascaris Palace on the Rue Droite, a splendid structure which was restored after the French Revolution. Built in the Empire style, the Opera House in this city where numerous celebrities, among them Elton John, own property, is worth seeing for its frescoed ceilings. And the Promenade des Anglais, known for its long beach lined with palm trees, is a good starting point for a city tour. From here it’s only only a few minutes to Vieux Nice (Old Nice) and the open air flower market, Marché aux Fleurs, on the Cours Saleya. You will encounter Baroque buildings everywhere you turn in old Nice. But perhaps the most beautiful among them is St. Augustin - St. Martin Church with decoration by the 15th-century painter, Louis Bréa. Massena Square on the Rue Jean Medecin, one of Nice’s most colorful avenues, is the heart of the city. Besides the cultural venues, this area is also chock full of shops boasting world brands. Cimiez, one of the city’s fashionable quarters, is famous for its art museums and gardens boasting panoramic views. Besides the Beaux Arts, where you can see the original of Rodin’s The Kiss, exciting venues like the Matisse and Chagall Museums truly make Nice the jewel of the French Riviera.

A SENSATIONAL Blue Diamond

Sotheby's is proud to announce that the Magnificent Jewels and Noble Jewels sale in Geneva this November will be headlined by the spectacular 'Blue Moon', a sensational 12.03-carat fancy vivid blue internally flawless diamond estimated at 34,000,000-53,500,000 CHF / 35,000,000-55,000,000 USD. The largest cushion-shaped fancy vivid blue diamond to come to auction, the 'Blue Moon' demonstrates the highest possible colour grading for stones of this type.

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