Jewelry News Online | Jewelry Magazine India

China’s jewellery market is seen to improve exponentially over the years through brand-building, consumer transparency and creating more engaging “buying occasions,” according to the World Gold Council (WGC). In its Gold Investor report for October 2018, the council cited “significant potential to drive further growth, leveraging China’s continued economic expansion and increasing disposable income.” The jewellery market in China accounts for 30 percent of global demand, making it the largest in the world. Chinese consumers traditionally purchased gold jewellery purely for its gold content but today’s evolving buyer demographics and digitalisation are giving rise to new opportunities and challenges. For instance, there is a “growing focus on adornment, as younger consumers in particular look to gold jewellery as a means of expressing their identity, gaining social recognition and embracing change,” noted WGC. According to Gerry Chen, director of Trade Engagement in China for ...

Britons are defying the Brexit gloom and splashing out on jewellery and watches, figures published yesterday reveal. Sales of jewellery shot up 2% in the three months to the end of September, outperforming every other type of purchase in the process. The boom helped retail sales expand 1.2% in the period despite a raft of big-name high street closures. The figures, which were released by the Office for National Statistics, show that jewellery and watch sales growth exceeded categories such as cosmetics, sports equipment, electronics equipment and books and newspapers. ONS head of retail sales, Rhian Murphy, said: “Retail continued to grow in the three months to September with jewellery shops and online stores seeing particularly strong sales. This was despite a stark slowdown in food sales September, following a bumper summer.” In the three months to September 2018, the quantity bought in retail sales increased by 1.2% when compared with the previous three months, with ...

A key festival brought little activity to the physical gold market in India this week as purchases remained significantly lower than normal with domestic prices jumping to the highest in more than two years. Demand in India, the second biggest gold consumer after China, usually strengthens towards the end of the year during the traditional wedding season and major festivals including Diwali and Dusherra, when bullion buying is considered auspicious. “Demand was better than last week but if we compare with last year’s Dusherra, it was as much as 40 percent lower in some pockets,” Nitin Khandelwal, the chairman of All India Gems & Jewellery Domestic Council, told Reuters. A rally in local prices due to a depreciating rupee and scant monsoon rains hurt rural purchases, he said. In the Indian market, gold futures hit the highest since July 6, 2016, at 32,311 rupees, earlier this week.If prices remain at the current level, then Diwali demand will also be subdued Two-thir...

The Provenance Proof Blockchain, the first coloured gemstone blockchain system initiated by the Gübelin Gem Lab, in cooperation with technology provider Everledger, is out to change the game in the gemstone world. A true industry solution, the free-for-all blockchain solution’s pilot phase, which involves testing the functionality, user-friendliness and security of the technology, will be completed by yearend. Global rollout and on-boarding is scheduled to begin at the Tucson Gem & Mineral Show in February 2019. In January 2018, the Gübelin Gem Lab announced the Provenance Proof Blockchain, a solution to enable the tracking of individual gemstones along the value chain, from mine to end-consumer. This project is part of the Provenance Proof initiative, a long-term programme dedicated in providing the gemstone industry with solutions and services enabling transparency along global supply chains. Everledger, a technology enterprise specialised in blockchain solutions fo...

Rio Tinto and Dominion Diamond Mines have revealed three large rough diamonds from their Canadian diamond mine that will be tendered to diamond specialists from around the world. Collectively known as the Diavik Stars of the Arctic, the three rough diamonds showcase a rare combination of size, quality and colour from the Diavik diamond mine in the remote Northwest Territories of Canada, 220 kilometres south of the Arctic Circle. The Diavik Stars of the Arctic will headline Rio Tinto’s forthcoming ‘Specials’ tender, which showcases rough diamonds greater than 10.8 carats. Taking their inspiration from constellations across the night skies of the North, The Diavik Stars of the Arctic comprise: Vega of the Arctic, 177.71 carats; one of the largest and most valuable gem quality rough diamonds ever produced in Canada. Altair of the Arctic, 59.10 carats; a white gem quality rough diamond. Capella of the Arctic, 24.82 carats; a yellow diamond. The Diavik diamond mine owned by Rio...