DiamondBuzz
Israel Diamond Exchange quits WFDB amid tariff dispute
The Israel Diamond Exchange (IDE) has suspended its membership in the World Federation of Diamond Bourses (WFDB), citing dissatisfaction with the organisation’s conduct during the ongoing US import tariff crisis, Rapaport News reported.
In a letter to WFDB Secretary-General Rony Unterman on 8th April, the IDE board said the decision followed unanswered requests for information and actions that had harmed Israel’s diamond trade. IDE President Nissim Zuaretz told Rapaport the move was triggered by WFDB President Yoram Dvash’s comments in Calcalist, where he criticised country-specific lobbying and promoted a global strategy for tariff exemptions.
Zuaretz accused Dvash of trying to take credit for advocacy led by the World Diamond Council (WDC), potentially jeopardising Israel’s own efforts. Dvash denied the claims, telling Rapaport they were “untrue and frankly absurd,” and emphasised the WFDB’s ongoing collaboration with the WDC.
Zuaretz said the IDE would shift focus to partnerships with the WDC and the International Diamond Manufacturers Association (IDMA), while also saving over $29,000 in annual fees. Dvash described IDE’s withdrawal as “rash,” warning it could weaken global unity at a critical time for the industry.
DiamondBuzz
Divine Solitaires Reinforces The Value Of Diamonds Amid Rising Gold Prices and Evolving Consumer Sentiment
Divine Solitaires Shares Its Perspective On Why Natural Diamonds Remain A Timeless and Relevant Choice For Modern Buyers.
Amid recent debates about rising gold prices and changing consumer purchasing habits, Divine Solitaires has provided a timely brand viewpoint pushing customers to reconsider how they approach milestone and aspirational purchases. Drawing on the greater economic conversation about reduced gold dependency and smarter purchasing choices, the brand has proposed a simple but relevant idea: halting gold purchases does not have to imply pausing personal celebrations or dreams.

Built around the message, “A Golden Pause. A Diamond Moment.”, the brand’s latest communication reflects the current market reality, where consumers are becoming more mindful of gold purchases amid unprecedented bullion price hikes and evolving government measures impacting the gold sector. Divine Solitaires believes this moment presents an opportunity for buyers to shift their focus toward natural diamonds, which continue to hold emotional, symbolic, and long-term value for milestone moments.
The idea also stems from a broader industry and economic perspective. While more than 90% of the gold consumed in India is imported, India’s natural diamond ecosystem remains deeply connected to the country’s economy, with Indian artisans cutting and polishing over 90% of the world’s diamonds, most of which are exported globally. Divine Solitaires highlights how choosing natural diamonds not only celebrates emotional and milestone moments, but also supports Indian craftsmanship, employment, foreign exchange generation, and the country’s global leadership in the diamond industry.

Additionally, the brand positions solitaire diamond coins as meaningful modern purchases that can serve as a thoughtful alternative to traditional gold coins. While gold coins often offer limited value addition to the Indian economy due to high import dependency, natural diamonds contribute significantly to India’s craftsmanship, exports, employment, and global industry leadership combining emotional value with lasting economic impact.
Commenting on this perspective, Jignesh Mehta, Founder and MD, Divine Solitaires, said:

“Jewellery has always been deeply emotional, whether it marks love, achievement, commitment, or self-reward. At Divine Solitaires, we looked at the current gold price scenario and felt there was a larger, more relevant consumer conversation to participate in. If buyers are consciously holding back on gold due to current market conditions, it doesn’t mean their celebrations or aspirations should be put on hold.”
He further added,”Natural diamonds offer timeless emotional value and remain deeply aspirational. At the same time, they are part of an industry where India has built extraordinary global leadership through its craftsmanship and processing expertise. This is our way of encouraging consumers to think differently, thoughtfully, and meaningfully in the current environment.”
With this, Divine Solitaires maintains its position as a brand that goes beyond product-driven conversations, engaging with real customer sentiment and bigger societal developments while underlining natural diamonds’ enduring value.
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