International News
Gemfields to Boost Ruby Output with New Mozambique Plant; Resumes Mining at Zambia’s Kagem Site

Gemfields is set to significantly expand its ruby production with the opening of a new processing plant at its Montepuez mine in Mozambique this September. The facility will triple the site’s ore-processing capacity—from 200 to 600 tonnes per hour—marking a major leap in the miner’s operational scale. Initial ruby production from the new plant is scheduled for August, with full operations launching the following month.
Originally slated for an earlier debut, the opening was delayed due to challenges including transportation disruptions, work permit delays, and security-related and operational issues in the region.
Meanwhile, Gemfields has also restarted open-pit operations at its Kagem emerald mine in Zambia, which had paused mining earlier this year as part of cost-reduction strategies amid a cooling colored gemstone market. The restart begins with two active production zones at the Chama pit, focused on low-waste mining. Depending on market recovery, the company may scale up activity in July, though it does not plan a full return to previous output levels in the near term.
In addition to its mining operations, Gemfields is once again evaluating strategic options for its luxury Fabergé brand, after resolving a rights issue that had temporarily paused such plans. The miner began exploring the sale of Fabergé in December as part of a broader effort to align its portfolio with market trends and shareholder interests.
Together, these moves signal Gemfields’ intention to adapt to shifting market dynamics while reinforcing its leadership in the colored gemstone sector.

International News
Groundbreaking Collection Highlights Possibilities for 3D-Printed Platinum Jewellery Design
Platinum Guild International Leads Efforts to Expand Platinum’s Production Capabilities Using 3D Printing Technology with Tùsaire Collection by Maeve Gillies

Platinum Guild International (PGI) continues to champion technological advancements in platinum jewellery design and fabrication with a ground-breaking development in 3D printing. The innovative Tùsaire collection, created by Scottish-American jewellery designer Maeve Gillies using 3D printing technology, is the first platinum-based collection of its kind to be launched commercially.
The Tùsaire Collection is named after the Scottish Gaelic word for “pioneer” and features jewellery made from platinum and titanium, including necklaces, bracelets, earrings, and rings that highlight the potential of 3D printed platinum in the realm of jewellery design and fabrication.

While sharing this latest development in the platinum jewellery market at ORIGINALLUXURY’s 5th Roundtable event in Geneva in May 2025, which brought together 150 luxury, technology and finance stakeholders, PGI’s CEO Tim Schlick explained, “We needed to put 3D printing of platinum to the test, to identify the advantages and challenges, in the hope of expediting the technology’s application in making precious jewellery and its ability to create novel designs and experiences. There is no doubt additive manufacturing will be very important for the future of jewellery as it unlocks so many new possibilities.”
While 3D printing was already an established technology for jewellery production, the launch of the Tùsaire collection beautifully demonstrates the decorative, scale and structural potential for 3D printed platinum jewellery. For example, the 3D printing and precious metal powder technology used have enabled the crafting of intricate, unique shapes that would be impossible to achieve otherwise, such as lattices, hollow structures and detailed textures. As Mr. Schlick noted during the workshop, “We are just beginning to understand how platinum can create new emotional and practical value in 3D printing, not only through how it looks, but how it is made, owned, and experienced.”
“This moment marks a pivotal opportunity for platinum to redefine its role in luxury through creativity, cross-sector collaboration, and future-ready innovation,” said Margot Stuart, co-founder of ORIGINALLUXURY and OriginAll S.A..


“As most of my work is in diamond bridal jewellery fabrication, I learned through experience that platinum is the ideal bridal metal due to its strength, resilience, and suitability for diamond design innovation. For this 3D-printed jewellery collection, my knowledge of platinum was invaluable in allowing me to design new solutions with the printing technology, helping to transform platinum into new jewellery looks and categories,” said Gillies about her experience designing and developing the 3D-printed jewellery.
The direct metal printing of the platinum pieces was completed by the Italian-based company ProGold, which utilises metal laser powder bed fusion and other technologies to develop and produce parts from precious metals for a range of industries.
“Due to platinum’s high tenacity, strength and high melting temperature, it enables the highest quality of structural integrity with precise heat control. Its good light absorption and low reflectivity also make platinum a comparatively energy-efficient metal for printing with lasers.” Tai Wong, Director of Innovations and Product Development at PGI shares. “Platinum’s metal attributes are superior for processes like laser powder bed fusion, and we found the best of platinum’s strength and shine are optimised by direct metal printing.”

The technology catapults platinum into new types of jewellery by enabling the creation of larger silhouettes that were previously impossible because platinum is traditionally a heavier, denser, and more expensive metal. However, platinum is currently highly desirable, partly because its price makes it more affordable than gold.
“This is such an interesting time in the industry because technologies are coming in thick and fast. At the same time, craft has never been more important for people to preserve and understand the process and the possibilities of new materials and new ways of expressing and pushing more towards what platinum can do,” added Ms. Gillies.
International News
Indecisive movement continues in precious metals-AUGMONT BULLION REPORT

● A weaker US currency and falling Treasury yields helped gold bounce back to $3350. However, the rationale against rate cuts was questioned by June’s low consumer confidence, which sparked worries about the labour market and trade policy.
● Despite political pressure, Fed Chair Jerome Powell remained cautious during his second day of testimony, stating that the Fed can control inflation brought on by tariffs but is not yet prepared to lower rates.
● To curtail Tehran’s nuclear program and ease Middle East tensions, US and Iranian officials are scheduled to meet next week. This comes as geopolitical tensions are beginning to ease. Although the ceasefire between Israel and Iran seemed to be holding, questions remained about how long it would last.
Technical Triggers
● If gold prices hold below $3330 (~Rs 97000), they may retrace to $3275 (~Rs 96000). However, it may go towards $3340 (~Rs 99000) if prices continue to rise beyond $3385 (~Rs 98000).
● For the bull trend to continue, prices must maintain the support of $35.50 (~ Rs 105,300). The next downward level, if this support is breached, is $34.50 (~Rs 104,000). Prices may increase to $36.75 (around Rs 107,500) on the upside.
Support and Resistance
Metal | Market | Support Level | Resistance Level |
---|---|---|---|
Gold | International | $3275/oz | $3420/oz |
Indian | ₹96,000/10 gm | ₹1,00,000/10 gm | |
Silver | International | $35.50/oz | $36.75/oz |
Indian | ₹1,05,000/kg | ₹1,07,500/kg |
International News
Luxury Market Faces Potential 5% Decline in 2025, but Jewelry Segment Remains Resilient – Bain & Altagamma Report

Despite challenges in the broader luxury market, the jewelry segment continues to shine, according to a new report by Bain & Company in collaboration with Italian luxury industry group Altagamma. The report outlines a cautious outlook for the personal luxury goods market in 2025, with the most likely scenario forecasting a moderate decline of 2% to 5%.
Three potential trajectories were presented for the year:
- A moderate contraction of 2%–5% (most likely)
- A stable scenario ranging from a 2% decline to 2% growth
- A more severe downturn of 5%–9% in an extended weak market
Following a strong rebound post-COVID, which saw the personal luxury market reach €369 billion ($425 billion) in 2023, the sector contracted slightly by 1% in 2024 to €364 billion ($419.2 billion). Early 2025 data suggests a further softening of 1% to 3% in Q1.
Despite the broader slowdown, the jewelry category remains a bright spot. Consumer appetite for both ultra-luxury pieces and accessible luxury jewelry continues to fuel growth in this segment. Bain notes that while sluggish tourism has affected the European luxury landscape, domestic demand—particularly for fine jewelry—has helped cushion the impact.
Other areas showing strength include experiential luxury, which is increasingly popular with Gen Z buyers seeking more personalized and emotionally meaningful luxury experiences.
However, overall global luxury spending is under pressure. Economic uncertainties, including tariffs in key markets like the US and China, are affecting consumer sentiment. Younger generations are also becoming more discerning, questioning the value and cultural relevance of luxury goods.

Still, there is optimism for the future. Claudia D’Arpizio, senior partner at Bain & Company and global head of its fashion and luxury practice, emphasized the sector’s resilience:
“Although demand is easing in the short term, the luxury sector has consistently demonstrated extraordinary resilience — buoyed by a growing global consumer base and deeply rooted emotional drivers,” she said. “Across generations, motivations tied to self-reward, status, identity, and achievement will continue to sustain the relevance of luxury.”
In short, while the luxury market may contract slightly in 2025, jewelry continues to shine as a key growth driver, supported by emotional value, strong local demand, and enduring consumer engagement.
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