ABN Amro Bank recently sent a letter to several of its diamond clients stating that it would be limiting finance for rough purchases… "in view of the continued lack of profitability in the purchase of rough goods. We recommend you to show constraint and only consider purchasing rough when there is sufficient profitability. We want our clients to ...
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In the passing away of K.T. Ramachandran, the Chief Gemmologist of the Gemmological Institute of India (GII), I lost someone I considered a rock of integrity that had stood fast in a swamp of loose ethics, billion-dollar scams and uncertain times in the Indian gem and jewellery industry.
There has been a lot of speculation and doomsday predicting in the wake of the De Beers announcement that it was launching its own synthetic jewellery line. Much of the reaction is driven by genuine fear. As an industry, we have been battling the insidious devaluation of our product by the undisclosed mixing of synthetics in parcels of natural diamonds.