DiamondBuzz

Augmont expands SPOT Gold Trading platform with lab grown diamond integration for global markets

Augmont, India’s largest gold trading platform announced that it has added Lab Grown Diamonds (LGD) to its existing online SPOT trading platform for precious metals catering to more than 5,000 jewellers across the country.

Published

1 year ago

January 29, 2025

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The enhanced SPOT 2.0 platform brings Augmont’s 17 years of precious metals trading expertise to the growing LGD sector. This addition represents an evolution of diamond trading infrastructure, particularly as India maintains its position as the world’s largest diamond cutting and polishing destination.

The platform enhancement introduces transparent pricing mechanisms and streamlined procurement processes for the LGD market inspiring confidence among key stakeholders. This strategic move is set to streamline the procurement for jewellers while establishing a transparent and efficient pricing mechanism for the rapidly growing LGD market in India.

Ketan Kothari, Director of Augmont Group, said, “Augmont has firmly established itself as India’s go-to destination for buying and selling gold. Building on this strong foundation, we are proud to have our own lab-grown diamond (LGD) platform on Augmont SPOT, addressing the surging demand in this rapidly growing industry. The platform will enable market pricing and delivery of these diamonds globally including USA, Europe, Gulf and East Asia’’

Aarav Bafna, Product Head (LGD), Augmont, said, “With the extended version of SPOT, we plan to set a benchmark for LGD pricing. The current LGD pricing model, based solely on discounts relative to mined diamonds, is fundamentally flawed and irrational. Augmont is here to transform that narrative. Just as we revolutionized gold trading and price discovery in India, we are now ready to redefine and reimagine the LGD market.”

SPOT offers a comprehensive and unified trading experience, enabling jewellers to source all their manufacturing requirements—including gold, silver, platinum, lab-grown diamonds, precious metal alloys, precious stones, and other essential materials—through a single integrated online platform. It also features real-time price discovery powered by advanced algorithms and market mechanisms, ensuring transparent and fair pricing. Quality assurance is a priority, with certification and verification processes for all listed diamonds. Built upon Augmont’s proven 17-year-old trading infrastructure, SPOT ensures seamless integration for a reliable and efficient trading experience.

The platform addresses the growing demand for lab-grown diamonds, which have gained significant market share due to their sustainable nature and competitive pricing. SPOT is expected to handle substantial trading volumes, reflecting India’s dominant position in the global LGD polishing industry.

As per the Commerce Ministry’s data, India polishes almost 98% of all lab-grown diamonds in the world in 2022.

As per the EY report, the demand for Lab-Grown Diamonds is rising across the world, and its global market size is growing at 8.64% CAGR to touch $39.3 billion by 2028. And the Indian lab-grown diamond jewellery market, which was valued at around $300 million in 2023, is set to increase to $1.2 billion by 2033.

DiamondBuzz

Alrosa Sees First Glimmers Of A Turnaround Driven By Growing Scarcity

Supply Crunch In Larger Stones Lifts Rough Diamond Prices

Published

8 hours ago

March 27, 2026

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Russian diamond giant Alrosa is detecting the first glimmers of a turnaround in both rough and polished diamond markets after several tough years, driven by growing scarcity as global production heads toward its lowest level in two decades.⁠

The miner reported that prices for its rough diamonds have climbed 6% to 9% since the start of 2026, with the most pronounced gains in the high-value 2- to 10-carat segment. That category accounts for about 80% of Alrosa’s production by value. Prices in these sizes rose across all three of the company’s trading sessions this year, with modest improvement in January followed by stronger advances in February and March. Overall, Alrosa lifted selling prices to varying degrees on nearly half of its regular assortment in the first quarter.⁠

Alrosa forecasts that worldwide diamond output will drop below 100 million carats in 2026—the lowest in 20 years—with risks of even steeper declines as older deposits are exhausted and unprofitable mines are idled.

The company itself has already suspended operations at several smaller sites, including alluvial projects in the Anabar River Valley and the Verkhne Munskoye deposit’s Zapolyarny and Magnitny open pits. Rio Tinto’s Diavik mine in Canada, a long-time supplier of high-quality stones, reached the end of its commercial production this week after more than 23 years and over 150 million carats extracted. Other Canadian deposits are also slated for permanent closure this year.⁠

The tightening supply comes as major producers, including Alrosa, have deliberately curtailed output in recent years to help balance inventories. Alrosa itself plans to mine 25–26 million carats in 2026, down from higher levels, while continuing to sell into key markets such as India and China despite Western sanctions.