Last updateTue, 25 Jun 2019 9pm

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Rapaport reports diamond prices decline in June

RAPI for 1ct. laboratory-graded diamonds -1.6% in 2Q

(NEW YORK) - Diamond prices continued to soften in June with many categories trading at deep discounts to the Rapaport Price List. Markets were relatively quiet as U.S. demand after the JCK Las Vegas show was weaker than in previous years, and Far East demand remains cautious. Diamond manufacturers are under pressure and continue to lose money on their rough supply. The RapNet Diamond Index (RAPI™) for 1-carat laboratory-graded diamonds fell 0.9 percent during June. RAPI for 0.30-carat diamonds declined 2.5 percent and RAPI for 0.50-carat diamonds dropped 2.6 percent. RAPI for 3-carat diamonds decreased 1.7 percent.
RAPI for 1-carat diamonds fell 1.6 percent during the second quarter of 2015 and on July 1, 2015 was down 15.3 percent from a year earlier.


Saxon's Diamond Centers Announces Let It Rain Promotion Winners

Saxons(BEL AIR, Md.) - They say rain on your wedding day is a sign of good luck. Greg Hunter and Megan Gernand can attest to that.

Greg and Megan recently won the Let It Rain promotion sponsored by Saxon’s Diamond Centers in Bel Air and Aberdeen, Maryland. According to promotion guidelines, participating couples who purchase an engagement ring from Saxon’s can get a refund of up to $3,000 if there is an inch or more of rainfall in Baltimore on their wedding day. On June 20, 2015, Greg and Megan’s Wedding Day, The National Weather Service in Baltimore recorded 1.92 inches of rain.

Analyst: Apple Watch selling worse than thought

usatodayThe Apple Watch was supposed to be the next magical product from the gadget maker. Not so fast, says Andy Hargreaves of Pacific Crest in a note to clients.

Hargreaves Tuesday cut his forecast for Apple Watch sales in the current fiscal year from 11 million to 10.5 million. That might not sound like much of a reduction, but he warns the bigger letdown will come next fiscal year due to “soft follow-on sales.” The analyst says the company will sell just 21 million watches in fiscal 2016, down from the earlier 24 million estimate.

“Anecdotal evidence suggests Apple Watch demand is slowing quickly,” according to Hargreaves’ note. “This dovetails with recent supply checks, which suggested a reduction in component order volume.”

Uncertain future for global diamond trade as profits vanish

reutersmediaThe family businesses that make up the global diamond trade have seen their profits wiped out over the past five years, hit by shaky financing, increased costs and uncertain demand from customers who prefer hi-tech gadgets to bling.

Manufacturers who cut and polish diamonds have found themselves caught between giant mining companies charging high prices for rough stones, and big retail chains that demand gems at low margins to keep sales moving.

While the $80 billion overall spent on diamond jewelry last year was a record, the manufacturers are expected to share a profit of just $100 million in 2015. That is half last year's total and down from $900 million in 2010, according to Chaim Even-Zohar of Tacy Ltd and Pranay Narvekar of Pharos Beam in Mumbai, two of the industry's top consultants.

Jewelers Mutual’s new loss prevention video stresses the value of keeping a suspicious incident logbook

(NEENAH, Wis.) - Nearly all crimes against jewelry businesses include elements of casing as criminals prepare to attack. In some cases, criminals and their accomplices may be in your store many times, identifying weaknesses and looking for opportunities.

One of the easiest proactive and most cost-effective measures any jeweler can take is engaging your employees in identifying, documenting and referring to a suspicious incident logbook. With a new Secure Business Series video from Jewelers Mutual Insurance Company, jewelers can train their staff to connect the dots, identifying and documenting incidents of casing and suspicious individuals before a crime occurs.

Ancient trade route shows gold's enduring power

gold ireland standardResearchers at the University of Southampton have found a prehistoric gold trade route between Ireland and southwest England. The route gives a glimpse into how ancient cultures regarded gold.

A new study has shed more light on how the value of gold has endured – and changed – since ancient times.

Archeologists at the University of Southampton in the United Kingdom have discovered a prehistoric gold trade route between Ireland and southwest England that dates as far back as the Bronze Age, or about 2500 B.C. The route’s existence implies that gold workers in Ireland chose to import the metal from Cornwall despite likely knowing how to extract the material from local deposits – suggesting variations in how the two cultures regarded gold, according to Dr. Chris Standish, the study’s lead author.

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Colorado woman finds 8.52 carat diamond in Arkansas state park

arkansas diamondMURFREESBORO, Ark. – An 8.52 carat diamond has been found by a Colorado woman at Arkansas' Crater of Diamonds State Park at Murfreesboro.

Park officials said Friday that the gem found by Bobbie Oskarson of Longmont, Colorado, is the fifth largest diamond found since the park was established in 1972. The park does not provide an estimate of the diamond's potential value.

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