FORTNIGHTLY MARKET REPORT
Mumbai Market Has Eye on Hong Kong Show - There are many overseas and domestic buyers in the market and there is a clear demand for goods, but transactions have been slowed considerably due to the differences in asking and offering prices. The 5-7% increase in the price of rough diamonds at the February De Beers Diamond Trading Company (DTC) sight is the main factor in sellers’ insistence on higher polished prices.
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Baselworld Turns 100

Baselworld, the leading international platform for global key players from the world of watches and jewellery, diamonds, gemstones and pearls, was inaugurated for the 100th time in March this year.
Given the poor demand for watches and jewellery in recent months, the show witnessed a 4% drop in footfalls versus 2016, with a total of 106,000 buyers from over 100 countries in attendance.
Commenting on the outcome of this year’s show, Sylvie Ritter, managing 62 solitaire director of Baselworld, said that the industry is currently going through a challenging phase, which particularly affects smaller companies. “Listening to our exhibitors and in agreement with the members of the different committees, we have decided to reduce the duration of the show and adjust the prices accordingly. Thus, Baselworld 2018 will be held from March 22nd to 27th, with the traditional press day on March 21st,” she noted. Ritter emphasised that for a century, watchmakers and jewellers have presented their creations in the heart of Basel to visitors and consumers around the world.

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