Last updateWed, 26 Jul 2017 11am

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Rapaport reports polished diamond prices rise in November

Scarcities, holidays and Chinese demand supporting prices with 0.30ct. RAPI +3%

(NEW YORK) - Polished diamond prices firmed in November supported by shortages of select categories and seasonal holiday demand. Trading improved with dealers focused on filling U.S. holiday orders, but old challenges remain: Manufacturing is unprofitable at current rough price levels and the diamond distribution chain is overstocked, despite some scarcities. The RapNet Diamond Index (RAPI™) for 1-carat, GIA-graded diamonds rose 0.7 percent in November, its first increase in six months. RAPI for 0.30-carat diamonds advanced 3.3 percent and RAPI for 0.50-carat diamonds grew 1.1 percent. RAPI for 3-carat diamonds fell 0.6 percent. RAPI for 1-carat diamonds remains down 7.1 percent since the beginning of the year.

Indian diamond trader pays for wedding of fatherless women

indian bridesSURAT, India (AP) — With the brides dressed in traditional red and gold embroidered saris and the grooms wearing long tunics and turbans, 151 young couples tied the knot at a mass wedding in the western Indian state of Gujarat on Sunday.

The nuptials were hosted by Mahesh Savani, an Indian diamond trader who has been paying for the weddings of fatherless women in the city of Surat for several years.

"Only someone who has lost her father can understand how much a girl needs her dad on her wedding day," said Vimla Koringa, 27, as she waited for her wedding ceremony to begin.


Savani said he first stepped in to play the role of the father in 2008, when one of his employees died a few days before the weddings of his two daughters...

Investigation into invalidated reports continues

GIAGIA offers no-cost confirmation service

(CARLSBAD, Calif.) - GIA continues to work closely with its database support contractor TCS and the Indian police to further the investigation of this fraud against the trade.

The two former TCS employees who made the unauthorized changes to the GIA grading information database were arrested and GIA has suspended the client accounts through which the diamonds in question were submitted. The police investigation continues; GIA will share new information about the investigation that arises.

VeryFirstTo Offers Million Dollar Diamond Crackers


(IDEX Online News) – It’s never too early to start planning the perfect Christmas dinner, and what better way to celebrate the festive season than with a set of six luxury Christmas crackers. But forget paper hats and a joke, these crackers each contain a valuable cut diamond.

Available through VeryFirstTo, the precious prices include a 3-carat oval-cut E / VS1 diamond valued at £113,000 ($171,000), a 3-carat F / VS1 princess-cut stone worth £127,000 ($192,000), an F / VS 3.5-carat step-cut stone priced at £137,000 ($207,100), a round E / VS2 stone valued at...

NRF reports Thanksgiving weekend brings big in-store and online crowds

(WASHINGTON) - Holiday shoppers were on their feet and online early over the Thanksgiving weekend as millions of people grabbed their friends and family and made the trek to their favorite stores, or sat down with their lists ready for some serious online shopping.

According to the National Retail Federation’s (NRF) Thanksgiving Weekend Survey conducted by Prosper Insights & Analytics, more than 151 million people said they shopped either in stores and/or online over the weekend. This compares to the 136 million, who in a mid-November survey, said they planned to shop over the weekend. Specifically, nearly 102 million people say they shopped in stores over the Thanksgiving weekend, and more than 103 million say they shopped online.

3 Tips to Reach Last Minute Holiday Shoppers

Sponsored content from Southern Jewelers Guild

With Thanksgiving, Black Friday and Small Business Saturday now in your rear view mirror, you’re probably wondering what momentum is going to carry you through the last 5 weeks of the year and make your holiday season merry and bright.

If you think it’s all down hill from here, don’t despair. According to a recently published article from IDEX Online, analytic company ShopperTrak has put together a list of predictions on the 10 busiest shopping days for the holiday season, and you still have 7 of them ahead of you.

Man questioned in murder of Montana mother and son who stumbled into fortune


Police in rural Montana are questioning a man previously convicted of aggravated kidnapping in connection with the murder of an elderly woman and her son who disappeared just ten days after they came into possession of a bar of gold worth almost half a million dollars.

The bodies of Beverly and Greg Giannonatti were found in a dump site in Powell County, Mont., Sunday night — a month after the mother, 79, and son, 57, vanished without a trace.

Powell County Sheriff Scott Howard identified David Wayne Nelson as a “high person of interest” in the case, the Montana Standard reported Monday, though he has not been charged with anything. Nelson has a Deer Lodge address and is being jailed without bail on a 72-hour investigative hold, Howard said at a news conference .