Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
RAPAPORT... Shares in Pandora dropped 18% Tuesday after the Danish jeweler lowered its full-year revenue outlook. The retailer reduced its forecast to a decline of 7% to 9%,from its earlier range of -3% to -7%, despite efforts to reignite sales withits brand relaunch. The decrease was due to a deliberate reduction in promotions in an effort to strengthen its brand, as well asdisappointing res...Read More
Import prices for steel billet and rebar in the United Arab Emirates have decreased over the past week, but domestic rebar prices remained stable, market sources said on Tuesday November 5.Demand for long steel was still moderate in the country, and buyers preferred to buy small quantities in order to avoid holding high stocks at the end of the year.Billet importsBillet was offered from Oman at ab...Read More
RAPAPORT... A fancy-vivid-blue diamond ring with a high estimate of $7.5million will go under the hammer at Christie's Magnificent Jewels auction inHong Kong later this month. The 3.24-carat piece, designed by Moussaieff, contains a square-emerald cut, 3.24-carat, internally flawless center stone surrounded by pink diamonds. Anotherprominent lot featured in the November 26 sale is a jadeite b...Read More
RAPAPORT... Couples are prioritizing personalization and overall costand quality rather than size when buying engagement rings, according to asurvey by wedding-planning resource The Knot. Some 45% of engagement rings contain custom-designedelements, the publication noted last week in a report based on a survey of over21,000 engaged or recently married couples. While diamonds were still the mostpop...Read More
China's hot-rolled coil exporters issue higher offers on Tuesday November 5 after a strengthening of the domestic market and amid the emergence of higher overseas bids.DomesticEastern China (Shanghai): 3,510-3,530 yuan ($499-502) per tonne, widening upward by 10 yuan per tonneNorthern China (Tangshan): 3,520 yuan per tonne, up 10 yuan per tonneBoth Shanghai-based and Tangshan-based traders told Fa...Read More
RAPAPORT... Lucara Diamond Corp. reported a loss at its Karowe mine inthe third quarter, amid increased operating expenses and a weak market forsmaller stones. The company recorded a net loss of $4 million for the periodending September 30, compared to a profit of $5.1 million during the sameperiod the year before. Operating expenses grew 9% as the miner switched to anew contractor, it noted....Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil firmed during the week to Tuesday November 5 as producers refused to lower their asking prices while they are able to obtain better prices domestically, sources told Fastmarkets.Market participants had expected export prices to fall further last month but such a decline failed to materialize due to the support from domestic...Read More
RAPAPORT... Polished-diamond imports to Hong Kong declined 24% in the third quarter, according to Rapaport calculations based on data from the Diamond Federation of Hong Kong, China. Polished imports fell 12% in the first nine months of the year, the official figures showed. Hong Kong Trade Data for 3Q 2019Read More
RAPAPORT PRESS RELEASE, November5, 2019, Las Vegas ... Diamond trading improved in late October after variousJewish, Indian and Chinese holidays. Dealers are focused on filling holidayorders as US jewelers prepare inventory for the season. Shortages are supportingprices of nonfluorescent RapSpec A3+ goods. Polished prices stabilized in October.The RapNet Diamond Index (RAPI?,,?) for 1-carat diamon...Read More
(IDEX Online) - Lucara Diamond Corp. has announced that plans to expand its 100-percent owned Karowe diamond mine is expected to double the mine's life to 2040. The miner also said the expansion would also generate "significant revenue and cashflow." "Lucara is highly encouraged by the results of the Karowe Underground feasibility study, which has outlined a much larger economic opportun...Read More
RAPAPORT... De Beers has restated its estimation of global diamond-jewelry sales following a new study valuing the diamond content in jewelry purchases since the 2008 recession. The group also revised its production data to reflect lower output than previously believed, stemming from an overestimation of the artisanal mining sector. Global diamond jewelry demand rose 2.4% to $76 billion in 2018, d...Read More
(IDEX Online) - Prices rough diamonds dropped 6 percent in the third quarter, Gem Diamonds reported today (Tuesday). Clifford Elphick, Gem Diamonds' CEO said the drop resulted from price pressure on high-value diamonds from the Let?... ?eng mine and lower value ore mined in the previous quarter.During the quarter, which ended September 30, the miner recovered four diamonds weighing over 100 c...Read More
(IDEX Online) - De Beers cut diamond prices by about 5 percent across the board at its November Sight, which ends on November 8, Bloomberg reports. According to reports, the price of some of the cheaper diamonds were slashed by double digits. Other Sightholders claimed De Beers also downgraded assortments, although this has yet to be confirmed.While the results of the ninth Sight of the...Read More
(IDEX Online) - Figures released by the Gold Council today (Tuesday) show demand for gold jewelry fell 16 percent year-over-year in the third quarter, to its lowest level since 2010. Demand stood at 460.9 tons as consumers shied away from buying because of higher prices and subdued economic sentiment. However, it was not all bad news for the yellow metal. Demand in the U.S. grew for the eleve...Read More
RAPAPORT... The diamond industry has much riding on this holiday season, having endured tough market conditions in 2019. While the trade reduced inventory levels in the third quarter, a large quantity of less popular items remain available. Meanwhile, US jewelry retailers are growing more conservative about buying inventory, taking more goods on memo and increasingly using technology to boost sale...Read More
The underground expansion at diamond miner Lucara Diamonds' 100%-owned Karowe diamond mine, in Botswana, is expected to not only double its mine life, but also generate significant revenue and cashflow until 2040.A feasibility study into the underground expansion has found that the adapted life-of-mine of an additional 15 years, including stockpiles, will produce 7.8-million carats of diamonds...Read More
De Beers is taking more drastic steps to stem the crisis in the diamond industry by cutting prices across the board for the first time in years.The company, the world’s biggest diamond producer, lowered prices by about 5% at its November sale, according to people familiar with the matter, who asked not to be identified as the information is private.AdvertisementThe move is aimed at helping i...Read More
Seaborne coking coal prices remained steady on Tuesday November 5, with premium mid-vol cargoes fetching around $140-142 per tonne cfr China this week, largely in line with last week's levels.Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.29 per tonne, down by $0.87 per tonnePremium hard coking coal, cfr Jingtang: $146.69 per tonne, up by $0.33 per tonneHard coking coal, fob...Read More
Poster South Africa mine regeneration on trackSPONSOREDorion mineralsA consortium led by Japan's Marubeni (50%) and including Transelec (30%) and Techint Chile (20%) won the contract with an EPC contract for Techint Chile, while operations and maintenance will be theRead More
Polymetal building with good momentumSPONSOREDpolymetal internationalWith more than 300 delegates due to attend, there will be progress updates on Continental Gold's Buritica gold project which is due to commence production in February, the feasibility stage Gramalote joint venture project which B2Gold will resume control of in the new year from partner AngloGold Ashanti (AGA), Minesa's Soto Norte...Read More