It's Alchemy: After Lab Grown Diamonds . . . Lab Grown Gold
July 24, 25
A US startup says it has developed technology to produce lab grown gold, as a byproduct of the fusion process used by nuclear reactors. San Francisco-based Marathon Fusion says a fusion plant powering 2.5m homes, can also produce around 5 metric tonnes... Read More...
Guilty: NY Pair Fenced $5m for "Crime Tourists"
July 24, 25Two men who ran a pawn shop in New York's diamond district have pleaded guilty to fencing up to $5m of watches, jewelry and other luxury goods that had been stolen by South American Theft Groups (STAGs). Dimitriy Nezhinskiy, 43, and Juan Villar, 48, ... vendors. Read More...
Dip in Sales for China's Biggest Jeweler
July 24, 25Chow Tai Fook (CTF), China's biggest jewelry retailer, reported a 1.9 per cent drop in year-on-year sales for the three months to 30 June. Gains in retail sales value (RSV) for its peripheral markets - Hong Kong, Macau and elsewhere (+7.8 per cent) ... Read More...
Diamond Slump: Botswana Devalues Pula Again
July 24, 25Botswana has devalued its currency for the second time in eight months, and is predicted to do so again as the sharp decline in diamond revenue batters its economy. Earlier this month the Bank of Botswana said it would allow the pula to weaken by as much... Read More...
Tariffs: Hopes Fade for India-US Trade Deal
July 23, 25Hopes that India and the US could agree a trade deal before the 1 August are fading, according to multiple news sources. Last week, US President Donald Trump said both sides were "very close" to reaching an interim agreement that would avoid the imposition... Read More...
Memo by Peter Meeus
July 24Dubai's ascent in the global diamond trade is undeniable, yet its polished diamond business now confronts a critical threat. Opaque regulations, punitive taxes, and mounting costs are pushing diamantaires, particularly from key markets, to look elsewhere... Read More...