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China’s Diamond Market Undergoes Dramatic Recalibration 

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Once a powerhouse of global luxury demand, China’s diamond market is experiencing a profound transformation, reflecting both changing consumer values and evolving economic realities. Liang Weizhang, CEO of HubWis Jewellery Strategic Creations (Guangzhou) Co., Ltd., provides an in-depth analysis of the latest trends, underlying drivers, and strategic imperatives for the industry.

According to the Gems & Jewelry Trade Association of China, the diamond market shrank from RMB 100 billion in 2021 to RMB 43 billion in 2024-a 57% drop-while diamonds’ share of the overall jewelry market fell from 14% to 6%. This contraction stands in stark contrast to the sector’s previous rapid expansion, but signals not just a downturn, but a realignment of consumer priorities and market structures.

While diamond demand has cooled, gold jewelry has surged, increasing its market share from 58% to 73% between 2021 and 2024. Other segments, such as jade and pearls, have seen volatility. Despite these shifts, the total Chinese jewelry market remains resilient, growing from RMB 720.5 billion in 2021 to RMB 820 billion in 2023, before a modest dip to RMB 778.8 billion in 2024. This underscores a rebalancing across categories rather than a wholesale decline in jewelry demand.

Customs data reveal a 73% drop in the volume of gem-quality diamond imports between 2021 and 2024, with import values plummeting 83%. Even as the volume of imports fell only 4% year-on-year in 2024, the value declined 40%, indicating significant downward pressure on prices and a shift toward more affordable, differentiated products.

Millennials and Gen Z are redefining luxury, prioritizing individuality, ethical sourcing, and value. For many, diamonds are now one of many ways to express personal identity rather than the ultimate status symbol. The rapid rise of laboratory-grown diamonds-offering sustainability and affordability-has further diversified the market, challenging the dominance of natural stones.

China’s moderated GDP growth and declining marriage rates have dampened demand for traditional diamond jewelry, particularly engagement rings. Consumers are increasingly drawn to gold, which offers both adornment and investment value, while diamond brands must work harder to connect emotionally and symbolically with buyers.

Industry leaders caution against viewing the contraction as permanent. Instead, they advocate for differentiated offerings, stronger storytelling, and digital engagement. Regional diversity within China presents growth opportunities, especially in emerging cities with distinct consumer profiles. Early signs of stabilization-such as increased activity at the Hong Kong Jewellery Show-offer cautious optimism for a gradual recovery.

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International News

Gold vs. Bitcoin – The Defining Investment Debate

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The ongoing debate between gold and Bitcoin has become central for investors navigating today’s uncertain markets. Gold, long regarded as a safe-haven asset, is being challenged by Bitcoin, whose rapid ascent and digital nature offer high-growth potential. As both assets reach new price milestones-gold surging to record highs and Bitcoin attracting institutional capital-the choice between them is increasingly consequential

Accessibility and Storage:
Gold’s physical form (coins, bars, jewelry) provides tangible security but comes with challenges: purity checks, storage costs, and liquidity issues. Selling physical gold may involve discounts and finding buyers, which can restrict quick access to funds. Bitcoin, by contrast, offers 24/7 global access via digital exchanges, with no need for physical storage. However, the responsibility of securing private keys and navigating digital wallets can be daunting for newcomers, introducing its own risks

Competitive Dynamics:
Gold’s appeal lies in its stability and long history as a store of value, especially during inflation and geopolitical crises. It has delivered steady, moderate returns and is supported by central bank demand. Bitcoin, while far more volatile, has demonstrated exponential returns in recent years and is increasingly viewed as a hedge against monetary instability. Its digital, decentralized nature and capped supply have attracted both retail and institutional investors. Other cryptocurrencies like Ethereum, Dogecoin, and XRP add diversity but also complexity to the crypto landscape

Investment Prospects:
Gold continues to serve as a conservative, inflation-resistant asset, especially favored during economic stress. Bitcoin, though highly volatile, offers outsized growth potential and is gaining legitimacy through institutional adoption and regulatory clarity. A diversified approach-combining gold’s stability with Bitcoin’s growth-can balance risk and reward in a modern portfolio.

Long-Term Value:
Gold’s enduring role as a wealth preserver contrasts with Bitcoin’s speculative, high-reward profile. Gold is trusted for crisis resilience; Bitcoin is favored for its upside and innovation. Ultimately, the gold vs. Bitcoin decision hinges on an investor’s risk appetite and financial objectives: gold for stability, Bitcoin for growth126.

Conclusion:
The gold or Bitcoin debate is a choice between tradition and innovation. Gold offers physical dependability and historical security; Bitcoin provides digital accessibility and the potential for exponential gains. Many investors now opt for both, leveraging gold’s stability alongside Bitcoin’s growth to navigate an evolving financial landscape

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International News

Must -see  collections at JCK Las Vegas 2025

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One reason JCK Las Vegas remains such an important hub for the international fine jewelry trade is because the show offers a truly diverse range of products, from loose diamonds and gems to tech equipment and supplies. These collections highlighted below offer a taste of JCK’s variety:Haute Couture Brooch Collection by Smiling Rocks, Smiling Rocks guitar brooch and  The Periklista Collection by Kouzoupis.

Haute Couture Floral Guitar brooch in 14k yellow gold with 0.98 ct. t.w. lab-grown diamonds and enamel,; Smiling Rocks. Haute Couture Hummingbird brooch in 14k white gold with 4.6 cts. t.w. multicolored lab-grown diamonds. Kouzoupis, a Turkish exhibitor in the Design Collective, is introducing the Periklista collection, which is named for the ancient Greek enamel technique that lends the pieces both their color and style. In Kouzoupis’ version, the ancient technique is made modern by the addition of bright colors and motifs, such as snakes, that capture the 2025 zeitgeist.

Like the European cloisonne method, the Periklista technique involves creating small partitions made of thin metal wires or strips on a metal surface, usually made of gold, and filling them with enamel, stones, or glass. Pioneered during the Mycenaean period (16th–12th century B.C.), Periklista enamel jewels were found in the royal tombs at Mycenae. Refined in subsequent centuries by Greek goldsmiths, the technique later influenced Roman and Byzantine art.

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International News

Kagem to recommence focused open-pit mining

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Gemfields is pleased to announce that Kagem Mining Limited (‘Kagem’), the emerald mine in Zambia which is 75% owned by Gemfields and 25% owned by the Government of the Republic of Zambia through the Industrial Development Corporation of Zambia (‘IDC’), will shortly recommence a programme of focused open-pit mining to recover more premium emeralds.

As announced on 23 December 2024, alongside other cost cutting measures, Kagem suspended all mining from 1 January 2025 to focus on processing ore from Kagem’s significant ore stockpile utilising the upgraded processing plant.

Emerald production from the processing plant in 2025 so far, in terms of carats recovered, has been in-line with the Company’s expectations, producing a lower proportion of higher-quality or premium emeralds than direct open-pit mining methods.

Kagem’s recent auction results, including the encouraging commercial-quality auction results released on 30 April 2025, has increased management confidence in the current emerald market and the decision has therefore been taken to recommence mining of two key production points in the Chama pit, with minimal waste mining, to recover premium emeralds for Kagem’s future higher-quality auctions. The decision to recommence full scale mining will continue to be assessed as market conditions develop.

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