While diamonds are definitely still a must-have in the jewellery boxes of wealthy women in China; rubies,

sapphires and other colored gems are becoming popular too.

"Diamonds are still sought after for weddings or a traditional event. But Chinese really want to show their individuality, that's the trend for everyone now," said Yao Yuan, a director at the International Gemological Institute.

Wealthy Chinese women have moved from a traditional preference for gold that could be quickly melted down for cash to a willingness to pay for jewels based on fashion and design.

Campaigns to promote diamonds with platinum have also been wildly successful in Shanghai and other wealthy cities. Jade, the traditional

Chinese stone much prized in past centuries, is still popular among older women.

But younger women seeking a casual and colorful look are more inclined to buy jewellery with sapphires, rubies or emeralds.

Read more : Diamonds not always a girl's best friend

De Beers Group's marketing effort for the 2007 holiday season kicked-off in New York on October 10. The annual campaign is designed to help retailers maximize opportunities to sell diamond jewelry during the all important Christmas season in the United States.

Using the theme "This Christmas, Promise Forever," the De Beers Group marketing campaign includes advertising, marketing, and public relations initiatives. "This year, the campaign will focus on the sentiments of the season, featuring a series of diamond piece-types in television commercials, print advertisements, out of home locations and online that capture the exchanges of love and commitment during the holidays," the group stated.

Eager to Know more  : http://www.diamonds.net/news/NewsItem.aspx?ArticleID=19228

8 October 2007

The discovery over a month ago of what was believed the "world's largest diamond" has come to a close. Brett Jolly, a British property developer, has denounced the stone stating that it is simply a piece of plastic.

Jolly believes that his former associates claimed they had discovered the 7,000 carat diamond as a means to persuade Jolly into buying the land located in South Africa's North West where the "diamond" had allegedly been found. Jolly told the Guardian that he believes the fraud allegations were an attempt to make an empty mine appear economically viable.

Eager to know more   "WORLD'S LARGEST DIAMOND" TURNS OUT TO BE PLASTIC

Diamond producers' shares have trailed mining companies since early 2006 as an abundance of gemstones weighed on prices. Now the outlook is brighter, says Evy Hambro, who runs the world's No. 1 metals fund.

Stockpiles have tumbled 75 percent since 2000, Canada's National Bank Financial said in a July report. No new mines are scheduled to start production in the next three to five years, according to RBC Capital Markets. At the same time, annual incomes in India and China, the two fastest-growing diamond markets, are rising as much as 18 percent.

"The supply and demand fundamentals are very supportive for prices," said Hambro, the London-based managing director of BlackRock's World Mining Fund, which has $10.2 billion in mining assets. "We see dwindling stocks and a shortage of new mine development."

Aber, Gem Diamonds and Shore Gold, the world's three biggest diamond mining companies by value, have trailed the Bloomberg World Mining Index's 39 percent gain this year

Demand for polished diamonds "will increasingly be driven by the faster-growing countries," he said.

India processes 11 out of every 12 of the world's diamonds, accounting for 80 percent in terms of volume.

Read more at    Demand for diamonds growing in China and India