JEWELLERY ZONE

  MJSA accepting jewelry making applications   MJSA Education Foundation Now Accepting Applications for Future of Jewelry Making, Scholarships Deadline for applications is May 13. The MJSA Education Foundation is now accepting applications for its annual, Future of Jewelry Making scholarships. Ranging from $500 to $2,500, the scholarships are available to students who are enrolled in a jewelry program and want to turn their passion for the design, manufacture, and/or repair of jewelry into careers. Applicants will be assessed based on their course of study, career plans, academics, recommendations, and financial need. All students must be U.S. citizens, although those studying in programs abroad are eligible. Every applicant will receive a complimentary one-year student membership to Manufacturing Jewelers & Suppliers of America (MJSA), the 121-year-old trade alliance dedicated to professional excellence in jewelry making and design. Through MJSA, students can connect

  GIA publishes new book about Hollywood Jeweler   The story of the life and stellar jewelry career of William Ruser is brought to life in a newly published book, William Ruser: The Jeweler Who Charmed Hollywood, written by GIA Research Librarian Judy Colbert and Co-Author Peggy Tsiamis. Ruser is remembered for his whimsical figural jewelry with freshwater pearls. Many of his finer pieces come up for sale regularly and command high prices. “Ruser had a very specific look in his unique and special designs. Like all great designers, there are certain elements within his pieces that make his work recognizable,” said the late Michael Kazanjian, estate jeweler and former member of GIA’s Board of Governors. Ruser came from humble beginnings to become the go-to jeweler for the leading movie stars and socialites of the 1940s through the 1960s. His celebrity clientele included Elizabeth Taylor, Frank Sinatra, Barbara Stanwyck, Robert Wagner and Joan Crawford, among many others. Ruser le

  Gold’s role, a strategic long-term investment!   Recently the World Gold Council published the 2024 Edition of, Gold as a strategic asset! According to the report, Gold has a key role as a strategic long-term investment and as a mainstay allocation in a well-diversified portfolio. Investors have been able to recognise much of gold’s value over time by maintaining a long-term allocation and taking advantage of its safe-haven status during periods of economic uncertainty.   Gold is a highly liquid asset, which is no one’s liability, carries no credit risk, and is scarce, historically preserving its value over time. It also benefits from diverse sources of demand: as an investment, a reserve asset, gold jewellery, and a technology component. These attributes mean gold can enhance a portfolio in three key ways, 1: Delivering long-term returns, 2: Improving diversification & 3: Providing liquidity. Combined, these characteristics make gold a clear complement to stocks and b

  A higher reading to push gold prices!   Just keeping hand on the market nerve, Colin Shah, MD, Kama Jewelry suggested on Gold Outlook ahead of US inflation data! He said, Gold prices inched up on MCX today (Week end day) touching Rs. 66,830. With the outcome of last US Inflation number and the latest inflation reading expected this week, gold price is witnessing a positive rally. Triggered by the Fed signalling a rate cut, we are witnessing the ripple effect in the gold prices early on. While the movement is marginal, a prominent range will firm up post the announcement of US Inflation numbers. Gold has continuously been the fond asset class for central-banking and safe-haven investment avenue since a higher reading will push gold prices as this precious metal is considered a hedge against inflation. The upcoming data is crucial as it will be a deciding factor for rate cuts for the US Fed.  

  NDC expands the Education Program   Natural Diamond Council (NDC) announces the expansion of the current Education Program. The advancement includes a new monthly subscription option, in addition to the existing annual subscription offering, and 19 comprehensive role play videos simulating in-store client experience. These videos are centered around the most frequently asked questions and misconceptions consumers have about diamonds while showcasing different scenarios that celebrate the real, billion-year-old natural and finite geological marvels, each its own unique masterpiece, and the responsible and positive impact of the industry. The videos are depicted through the lens of the self-purchasing and gift shopping consumer and the purchasing–couple. The format comprises 1–3-minute video sequences that can be used as a protocol for sales advisors and jewelry professionals to tell the natural diamond story and value proposition confidently. Established in 2023, NDC’s Educa

  Sierra Leone under the KP’s, Year of Delivery!   Ahmed Bin Sulayem, Chair of the Kimberley Process (KP), led a delegation from the UAE to the West African countries of Sierra Leone and Ghana in March to evaluate the local implementation of Kimberley Process procedures and gain insights into best practices applied in the two countries. This marked the first visit to both nations by an acting KP Chair. This visit followed an earlier trip to the Central African Republic, aimed at expediting the review process by the KP’s Working Group of Monitoring and initiating efforts to reinstate the country’s diamond trade, which had been partially restricted due to unrest. During the five-day visit to Sierra Leone and Ghana, Bin Sulayem engaged in discussions with government officials, industry representatives, and artisanal miners across the countries, including with Mohamed Juldeh Jalloh, Vice President, Sierra Leone. The UAE delegation visited significant diamond exploration sites, in

  PNG on the SEBI way in raising IPO   P N Gadgil Jewellers Limited (PNG), the second largest among the prominent organised jewellery players in Maharashtra, in terms of the number of stores as on January, 2024, which is the largest market for BIS- registered outlets in India has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI). The Company’s initial public offering comprises a fresh issue of equity shares of face value of Rs 10 each aggregating up to Rs 8,500 million and an offer for sale of equity shares of face value of Rs 10 each aggregating up to Rs 2,500 million. The total offer size comprises of equity shares of face value of Rs 10 each aggregating up to Rs 11,000 million. The offer for sale comprises of equity shares of face value of Rs 10 each aggregating up to Rs 2,500 million by SVG Business Trust (Promoter Selling Shareholder). The funds raised through the IPO are proposed to be utilized for the fundin

  Signet jewelers outlook FY 2025 struggles for growth! Signet Jewelers Limited, the world's largest retailer of diamond jewelry, announced its results for the 14 weeks and 53 weeks (Fiscal 2024) ended February 3, 2024. The Company's Fiscal 2025 Outlook is based on the following assumptions: the Company expects an approximately 1.5% to 2.0% negative impact to sales from integration issues with its Digital banners. The Company expects to resolve the issues in the second half of the year but is not reflected as such in guidance. Importantly, the issues are not tied to nor impacting the eCommerce channels of our core banners, which are performing well. Approximately $225 million in non-comparable sales headwinds reflecting over $100 million from the 53rd week in Fiscal 2024, approximately $75 million in the UK from the sale of previously announced prestige watch locations in the UK and up to 30 Ernest Jones store closures, and approximately $50 million from total store closu

  Replacing the Duty Drawback Scheme!   Recently Pankaj Parekh, Regional Chairman – Eastern Region, Gem & Jewellery Export Promotion Council, said about, ‘Replacing the Duty Drawback Scheme with Remission of Rates and Taxes!’ He said, exporting gold jewellery made out of duty-paid gold and claiming duty drawback is not commercially viable, as the drawback duty rates are always lower than the rate paid while importing. The rates of duty drawback are revised and fixed for a period of six months, which does not work well for a commodity like gold whose price is usually quite volatile. In addition, nominated agencies do not supply duty-free gold to small exporters who want to service overseas orders, which prevents newer players from entering this space. Over a period of time, the GJEPC has seen a drop in the number of companies exporting gold jewellery under the Micro, Small and Medium Enterprises (MSME) category, which has impacted exports from Domestic Tariff Areas (DTAs). T

  AGA Announces 2024 Scholarship and Research Grant   To mark its 50th anniversary, the Accredited Gemologists Association (AGA) announces the return of the AGA Gemological Education Scholarship and AGA Gemological Research Grant awards in 2024. Open to gemological enthusiasts and professionals worldwide, applications for the Scholarship are being accepted now through May 15, 2024. Applications for the Research Grant are accepted from April 15 through July 15, 2024.   2024 AGA Gemological Education Scholarship is awarded to need and merit-based recipients around the globe for study in the field of gemology. If you are pursuing a career in gemology and need assistance with your education, you are encouraged to apply. Scholarship funds, up to $5,000, may cover tuition and practical classes only and are paid directly to the institution. Visit AGA’s website to learn more here.   2024 AGA Gemological Research Grant supports individuals developing a scientific research project wh

  A single gem 4,145 carat rough emerald sold   Grizzly Mining Limited, one of the world’s largest producers of emeralds, is pleased to announce the results of its latest international emerald auction held in Dubai in March 2024. The auction saw the Company offer its latest medium- to high-grade rough emeralds from their flagship Grizzly emerald mine in Zambia. Auction generates strong sales of US$19 million; 76 clients in attendance from Europe, Asia, and Africa! Key Highlight of auction saw a single exceptional gem quality 4,145 carat rough emerald sell to the winning bidder K Sunil Narnoli. 117 emerald lots were offered for sale, 112 of which were sold, with 5 lots reserved. Abdoulaye Ndiaye, Chairman of Grizzly, commented, “I am pleased to announce another strong auction from Grizzly Mining. Our spring auction was very well attended underpinning the strong demand for high quality Zambian emeralds. I am pleased to see such strong bidding for the exceptional 4,145 carat sto

  Star Diamond book a loss in 2023 Results!   Star Diamond Corporation reports that the audited financial results for the year ended December 31, 2023, will be filed today on SEDAR+. Accordingly, Star Diamond Corporation is a Canadian natural resource company focused on exploring and developing Saskatchewan's diamond resources. These properties are in close proximity to established infrastructure, including paved highways and the electrical power grid, which provide significant advantages for future mine development. The Company also holds a 50% interest in the exploration and evaluation properties and assets of the Buffalo Hills JV located in north-central Alberta, Canada. Canterra Minerals Corporation (Canterra) holds the remaining 50% interest. Canterra is the operator of the Buffalo Hills JV.   Fort à la Corne mineral properties, the Company entered into a binding agreement with RTEC, providing for the transfer by RTEC to Star Diamond all of RTEC’s 75% interest in the

  Unveiling Gemfields x Shruti Sushma collection   Gemfields Zambian emeralds dazzle in inaugural collaboration with Indian label Shruti Sushma! The newly unveiled collection of necklaces and earrings harks back to the glamour of bygone days and features Zambian emeralds from the Kagem mine.   Shruti Sushma is a mother-daughter fine jewellery house with showrooms in Ahmedabad and Bangalore and is revered by a discerning clientele in India and beyond for its devotion to the finest Indian craftsmanship traditions.   Redefining Indian style with delicate and wearable designs, the new Gemfields x Shruti Sushma collection showcases floral-inspired pieces alongside those that nod to India’s rich heritage. Many of the pieces pair emeralds with diamonds and tanzanites creating a subtle floral tapestry; and all are set in 18k gold.   The Amore Emerald and Tanzanite Earrings and Necklace convey the essence of love with heart-shaped gemstones. The Honey Flute Necklace arranges eme

  Ritani championing ethical LGDs luxury   As Lab-Grown Diamonds (LGDs) become more popular, availability of unique diamond colors increases at Ritani! Ritani, a leader in fine jewelry, has unveiled an exclusive collection of pink and blue lab-grown diamonds. This innovative offering not only underscores Ritani's dedication to quality but also meets the increasing consumer desire for unique jewelry options. The new collection features a stunning array of pink and blue diamonds, each chosen for its vivid color and exceptional clarity. Pink diamonds, celebrated for their tender, romantic luminance, symbolize love and femininity, making them a favored choice for engagement rings and anniversary gifts   Blue diamonds, conveying a sense of serenity and confidence, mirror the ocean's depth and the sky's expanse. These hues provide a rich palette for those looking to express their individuality and personal narratives through their jewelry selections. Ritani's emph

  Recovery of the diamond industry in 2024: Sarine   Recently, Sarine Technologies Ltd announced its financial results for the twelve months ended 31 December 2023. In the report Sarine presented their outlook for 2024 & Prospects! The outlook for interest rates has improved from late 2023. Most central banks have stopped further rate increases, and there is growing expectation that interest rates could start falling later in 2024.   Within the diamond industry, conditions have improved from the challenges of H2 2023. Year-end sales have reduced the inventory of polished natural diamonds and the substantial reduction in the prices of rough diamonds in January 2024 has improved the profit margins of manufacturers   The market disruption caused by LGD may have peaked in 2023, and any recovery of the natural diamond industry in 2024 will benefit our traditional businesses of capital equipment sales and Galaxy scanning. The Group’s new services have received encouraging respons

  15-20% of units in India operate large-scale facilities   India’s manufacturing industry remains fragmented and unorganised. Only 15-20% of units operate as organised and large-scale facilities; this was less than 10% some five years ago. 55% of manufactured jewellery is handmade by karigars (artisans) who produce intricate pieces, thus sustaining the unique selling point for which Indian gold jewellery is renowned in the global market. While karigars form the backbone of the Indian gem and jewellery industry, many work in very poor conditions and a large number are underpaid as compared to many other industries, earning between Rs15,000 and Rs16,000 (US$190-200) per month. Mandatory hallmarking became effective on 16 June 2021 and applies to six purities: 14k, 18k, 20k, 22k, 23k and 24k. Its introduction will create a level playing field in terms of purity and enable retailers to focus on differentiation through design and customer service. These moves are likely to remove s

  Burgundy Diamond presents SEA 2023   Burgundy Diamond Mines Limited provides its 2023 Socio-Economic Agreement (SEA) Report. The Socio-Economic Agreement Report is published annually and highlights the numerous ways our operations at Ekati Diamond Mine provide social and economic benefits to Canada’s North. The report summarizes key performance metrics covering safety, employment, environment, community investment and northern business expenditures. Burgundy’s commitment to sustainable development and contributions towards local communities, specifically benefiting local Indigenous peoples including First Nations, Inuit and Métis, are outlined in the report. The report provides information about Impact Benefit Agreement (IBA) partnerships with four Indigenous communities, which for Burgundy includes the Hamlet of Kugluktuk & Kitikmeot Inuit Association, Akaitcho Treaty 8, Tłı̨chǫ Government and North Slave Métis Alliance. “As Canada’s largest diamond producer, Burgundy

  Star Diamond acquires 100% of Fort à la Corne   Star Diamond Corporation announced the completion of its previously announced transaction with Rio Tinto Exploration Canada Inc. whereby RTEC has transferred to Star Diamond all of RTEC’s 75% interest in the Fort à la Corne diamond project located in central Saskatchewan. Star Diamond now owns 100% of the Project.   In connection with the completion of the Transaction, Star Diamond issued shares to RTEC, such that RTEC and its affiliates now own 19.9% of Star Diamond’s issued and outstanding common shares. RTEC and Star Diamond also entered into an investor rights agreement whereby, among other things. RTEC has agreed to certain standstill protections provided that RTEC has the right to increase its 19.9% ownership position in the event that Star Diamond receives an acquisition proposal.   The Transaction was completed pursuant to an agreement previously jointly announced by Star Diamond and RTEC. Copies of the Agreement and

  A wonderful jewellery under Sotheby’s hammer   Sotheby’s Hong Kong, announces the auction of the Phillips Family Collection from Japan. A live auction on 4 April 2024! The Phillips family collection from Japan features a wonderful selection of signed jewels from renowned houses such as Van Cleef & Arpels, Bulgari, and Buccellati, among others.   This curation includes both jewellery and bejewelled timepieces, reflecting the family's appreciation for high-quality, artisanal pieces. The jewels, cherished and well-loved over the decades, showcase timeless elegance and intricate designs.   This auction not only highlights the Phillips family's discerning taste but also offers a glimpse into the enduring allure of these fine jewels through time. Focussing here the two known collection from, 1: Van Cleef & Arpels & 2: Bulgari.   1: Van Cleef & Arpels: Comprising: necklace set with foliate motifs, decorated with brilliant-cut diamonds and diamonds

  Introducing the Gabriel Limited Collection   Gabriel & Co., renowned for its excellence in bridal and fine jewelry, proudly unveils its latest masterpiece: the Gabriel Limited collection. This exquisite range epitomizes modern elegance while maintaining timeless appeal, meticulously crafted with diamonds meticulously inspected by the Gemological Institute of America (GIA), the global authority in diamond grading. Each piece in this collection is accompanied by a certificate of authenticity bearing a GIA Grading Report, ensuring its quality and authenticity.   Embodying glamour, sophistication, and resilience, the Gabriel Limited collection showcases ethically sourced natural diamonds, meticulously matched and set to perfection. Crafted with platinum and 18 karat gold, every engagement ring and jewelry piece undergoes meticulous hand polishing to achieve impeccable surfaces.   The hallmark of Gabriel & Co.’s commitment to transparency is evident in the unique seria

  Extensive range of 925 Silver collections!   925 Silver Jewelry by Phoenix Manufacturing, Thailand's leading online wholesaler and manufacturer of sterling silver jewelry, announces its extensive range of collections for businesses worldwide. As the e-commerce arm of Phoenix Manufacturing Co. LTD, the company stands at the forefront as a Wholesale Sterling Silver Jewelry Supplier with collections like Wholesale 925 Silver Rings that is affordable, fashionable silver jewelry perfect for any season or occasion.   With a growing catalogue of over 15,000 designs, 925 Silver Jewelry by Phoenix Manufacturing caters to the diverse needs of jewelry businesses, especially when preparing for their spring, summer, or winter sales. The sterling silver collections feature a vast selection of necklaces, ear cuffs, hoop earrings, stud earrings, bracelets, nose jewelry, pendants, and rings, among others.   Jewelry businesses looking to refresh their inventory with high-quality, trend

  The Changing Landscape of Retail Jewellery   The gold industry is integral to the Indian economy, contributing 1.3% to Indian GDP. But it is still fragmented – dominated by small and medium-sized enterprises. Over the last decade, the retail jewellery market has undergone a notable shift, driven by changes in consumer behaviour and government regulations designed to encourage the industry to become more organised.   The advent of chain stores in the last 10-15 years and their gradual gain of market share at the expense of stand-alone retailers has been notable. And this market share continues to increase, up 5% since 2016, and representing a 35% share of the market by 2021.   The competition fostered by such rapid expansion has encouraged innovation; jewellers are now focusing on product offerings that provide both value and diversity to India’s wide cultural and demographic customer base. Chain stores, with national operations, focus on daily wear and fast-moving jewel