The Evolving Landscape of Diamonds: Challenges and Opportunities

Latest Diamond News: October 1, 2023

Lily James Shines in New Natural Diamond Advertising Campaign

British actress Lily James is now starring in the second installment of the Natural Diamond Council’s “For Moments Like No Other” advertising campaign. The campaign celebrates the emotional connection between people and diamonds, and James’s participation is sure to resonate with viewers.

Alrosa Temporarily Stops Rough Diamond Supply

Russian diamond miner Alrosa has temporarily halted the supply of rough diamonds to the market in an effort to stabilize prices. Alrosa is the world’s largest diamond producer, and its decision to stop selling rough diamonds is likely to have a significant impact on the global diamond market.

Taylor Swift’s Diamond Drama Unfolds at VMAs

At the MTV Video Music Awards (VMAs) in Newark, New Jersey, Taylor Swift wore a pair of diamond earrings that were reportedly worth millions of dollars. However, some viewers noticed that the earrings appeared to be fake. Swift has not commented on the matter, but the incident has sparked a debate about the authenticity of celebrity jewelry.

US Imposes Sanctions on AGD and Grib Diamonds

The United States has placed sanctions on AGD Diamonds of Botswana and Grib Diamonds of Russia in an effort to crack down on the financing of Russian President Vladimir Putin’s war in Ukraine. The sanctions prohibit US citizens and entities from doing business with the two companies.

“Bleu Royal” Diamond Could Fetch $50 million at Auction

A rare 13.22-carat blue diamond known as the “Bleu Royal” is set to be auctioned by Christie’s in Geneva on November 15th. The diamond is expected to fetch up to $50 million, making it one of the most expensive diamonds ever sold.

Belgian PM Calls for G7 Sanctions on Russian Diamonds

Belgian Prime Minister Alexander De Croo has called on the G7 countries to impose sanctions on Russian diamonds. De Croo argued that such sanctions would be a way to put pressure on Putin and his regime.

Deloitte Predicts Holiday Retail Sales in the US to Jump in 2023

In its annual holiday retail forecast, Deloitte anticipates a 3.5% increase in sales in the United States. This is good news for the diamond industry, as holiday sales typically account for a significant portion of annual revenue.

NDC Joins Forces with Leading Chinese Jewelry Brands in New Campaign

The Natural Diamond Council (NDC) has embarked on a collaborative campaign with leading Chinese jewelry brands to promote natural diamonds to Chinese consumers. The campaign is designed to highlight the emotional value of natural diamonds and to encourage consumers to purchase them as gifts for loved ones.

Survey: What Shapes Jewelry Preferences Among High-Income African-Americans?

A recent survey found that high-income African-Americans are more likely to purchase jewelry as a status symbol than other demographic groups. The survey also found that African-American consumers are more likely to prefer diamonds over other gemstones.

IDEX: US Watch and Jewelry Sales Drop Further in July 2023

According to the International Diamond Exchange (IDEX), US watch and jewelry sales dropped further in July 2023. This is the third consecutive month that sales have declined. The IDEX attributed the decline to a number of factors, including rising inflation and the ongoing war in Ukraine.

25-carat yellow-diamond ring by Bulgari achieves $2.8 million

A 25-carat yellow-diamond ring by Bulgari sold for $2.8 million at a recent auction. The ring is part of Bulgari’s “Eden The Garden of Wonders” high jewelry collection. It features a pear-shaped yellow diamond surrounded by a halo of white diamonds.

The diamond industry is facing a number of challenges, including the rise of lab-grown diamonds, the ongoing war in Ukraine, and rising inflation. However, the industry is also benefiting from strong demand from Chinese consumers and from high-income African-Americans. It remains to be seen how the diamond industry will perform in the long term, but the latest news suggests that it is still a resilient and growing industry.

Learn Rough Diamond Grading and Evaluation with Us!

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Note: The request to apply for a diamond dealers license is subject to the requirements and regulations of the South African diamond and Precious metals regulator.

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