The TradersDiamonds Market Update – 11/05/2009

GIA and GJEPC sign MOU to promote gemological education

In a wonderful development, The Gemological Institute of America (GIA) and the Gem and Jewellery Export Council (GJEPC) have decided to join hands to promote greater gemological education throughout India. They have signed a Memorandum of Understanding (MOU) to this effect and plan to build a solid foundation to raise the overall gemological education standards in India. They also believe that this effort will help to develop and retain talent in the industry.

The two bodies will work together to develop course content that will set standards and fulfill the education requirements for the Indian gem and jewllery industry. GIA India will introduce and conduct gemology courses at all GJEPC institutes, using well trained faculty able to speak English, Hindi and Gujarati. In addition GIA will admit GJEPC graduates to GIA for higher studies. In return, the GJEPC will actively promote the programmes, obtain the necessary clearances and permission to conduct the courses whenever required.

We at TradersDiamonds.com are extremely pleased with this development. We take every opportunity to educate our customers and have been striving for more informed diamond buying and selling in India. With GIA and GJEPC taking it upon themselves to do the same, our job became so much easier.

News from the Markets

New York

The New York market is picking up slowly. The orders are flowing in at a steady rate but demands are constantly rising. Overall, the demand is far slower than the rest of the world market

The best demand is in the Carat sizes 1.50 -2.00cts in better clarity. Demand for Fancy Cuts in 0.50 carats and above is also increasing.

Antwerp

The Belgium Diamond market is showing great improvement at the trading level. Traders are preferring to conduct more cash transactions because they are very concerned about their ability to collect their payments in the current market environment. But demand is rising steadily and the mood is positive

Demand has improved across the board for stones up to 3.00 carats.

Mumbai

Compared to recent weeks trading levels have shown a large improvement. Demand has been created by local requirements as well by the presence of overseas buyers. But the severe scarcity of goods has resulted in very few purchases.

The best demand is for rounds ranging from 1.00-2.00 carats in G-J colour and VS clarity. Sphere: Related Content