Diamond

DMCC announces $38.3 billion in 2023 diamond trade

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Despite a global 20 per cent drop in rough diamond prices, the UAE’s rough diamond trade only decreased by 13 per cent year-on-year in 2023, maintaining robust volumes, DMCC reported. A total of $21.3 billion of rough diamonds were traded in the UAE in 2023.

Historically focused on rough diamonds, Dubai’s diamond industry now sees polished diamonds contributing 44 per cent to the total trade value. The Gemological Institute of America’s new laboratory in Dubai, opened in February 2024, is expected to boost the sector further.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said. “Our appeal to

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Diamond

French tourist finds 7.46-carat diamond in US national park

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A French tourist struck luck on a visit to a US national park when he found a 7.46-carat diamond in 37 acres of muddy earth.

Julien Navas from Paris was visiting Arkansas‘ Crater of Diamonds State Park for the first time during a trip to the US to see the Vulcan Centaur rocket launch from Cape Canaveral when he made his discovery.

The park is one of the few places in the world where the public can search for real diamonds.

“I got to the park around nine o’clock and started to dig,” Mr Navas said.

“That was back-breaking

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