Diamond Business

A constant examination of the global diamond business from mining to retail. Using industry data and analytics, it is explained in context with clarity.

What is the Diamond Industry?

The diamond industry is a fascinating sector, with a rich and, at times, controversial history. To satisfy global consumer demand for diamond jewelry, the diamond industry invests in exploration and has developed new ways to extract diamonds from the ground.

It employs sophisticated ways to assess rough diamonds without the need to first cut them open, and has developed state-of-the-art technologies to plan diamond polishing. In addition, the industry has sophisticated ways to grade diamonds, and a complex way for determining a diamond’s value.

The diamond industry also includes design and jewelry manufacturing. Some are ultra-modern, and others very traditional. In all cases, they address consumer demand and tastes.

Are Diamonds Expensive?

Diamonds come in all sizes and clarities, and in many colors. The rarer a diamond, the higher is its value. Some are very pricy, and some are less so. There is a diamond for every budget.

Along the value chain, miners, polishers, jewelry makers and retailers do not have a wider margin than their counterparts in other sectors.

Surprised? Read the following insight posts and reports to learn more about the economics of the diamond industry.

What Are the Components of the Diamond Industry?

The diamond industry includes:

  • Exploration
  • Mining
  • Rough diamond sales
  • Diamond polishing
  • Polished diamond wholesaling
  • Jewelry making
  • Retailing
  • Consumer demand

The following posts provide insights into how exactly the diamond industry works, the ways miners sell rough diamonds, how diamond polishers tackle changing demand in a lengthy polishing process, and the financial issues that all parts of the diamond industry face.

For a deeper look into this topic, please see below:

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Diamond Production Dropped, Now It Is Nosediving

Diamond Production Dropped. This Is How It Nosedives - rough diamonds mining - Edahn Golan

Global diamond production sank 6.9% in 2019, the deepest plunge in a decade. By value, diamond production dropped 6.2%. There were good reasons for this, and the updated diamond production forecast calls for an even more significant slide in 2020.

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Diamond Business Absorbs Blows

Diamond Business Absorbs Blows

The diamond business keeps suffering from declining prices and a decrease in consumer spend on jewelry due to COVID-19. Persuasive marketing can address underlying issues.

This Is How COVID-19 Impacted Jewelry Sales

This Is How COVID-19 Impacted Jewelry Sales featured

COVID-19 hit the world like a wild and destructive storm and the diamond industry was not spared. Following are the figures showing just how COVID-19 impacted sales, and how the tide is perhaps starting to turn.

The Rush for the Holy Grail: Cash Flow

The Rush for the Holy Grail Cash Flow - featured Edahn Golan

Diamond wholesalers, just as any other business owners in the COVID-19 era, need to jump start their business activity, and those that could did. The result was a mid-single digit drop in wholesale diamond prices in May. Polished Diamond Prices Tumble Seeking Cash Flow The desire to generate cash flow, accompanied by pressures to do so quickly, led traders to …

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Polished Diamond Prices Edge Down in April

Polished Diamond Prices Edge Down in April

Conventional wisdom holds that trading in the diamond industry should have come to a complete stop in April. This is largely true, but there are some exceptions. Polished diamond trading has continued, though at a much reduced level. Prices naturally declined, down a low single digit. Jewelry stores in China are mostly open, and a good number of stores remained …

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Diamonds in the Age of COVID-19

April 2020 webinar - Diamonds in the Age of COVID-19 featured image

Diamonds in the Age of COVID-19: The diamond market, from mining to retail, has changed dramatically under COVID-19. In a webinar given with AWDC, current diamond market dynamics, needed steps, a glimpse into the future, and our poll results were discussed. We covered a lot of ground.

The Golan Diamond Market Report – Q1 2020

Edahn Golan Diamond Market Report-Q1 2020 - Featured image

The Q1 2020 issue of the Golan Diamond Market Report reviews transaction polished diamond prices, changes in midstream inventory & demand, and updates on prices and demand in the LGD market. All that, plus an exploration of consumer attitudes.