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Diamonds, pearls and precious stones: a market on the rise

JVF

The world trade of rubies, sapphires and emeralds has gone from 1 billion USD of 2003 to 7 USD dollars of 2016. And diamonds: young people are revolutionizing the trend.

Gold, the metal representing luxury and power in the whole world, has given up its position of absolute hegemony on the market to give a significant place to pearls and precious stones.

This tendency has been evident for two or three years already especially if compared with the trends of the previous decade. The world trade of rubies, sapphires and emeralds, for example, has gone from 1 billion USD of 2003 to 7 billion USD of 2016. A growing position is being taken by pearls – with a world turnover of about 80 billion USD a year – exported mostly by Indonesia, Australia and Hong Kong.

The leaders: Hong Kong and Thailand

If Hong Kong is the leader in colored precious stones exportations, Thailand classifies as the second world exporter of rubies, sapphires and emeralds. The interest for precious stones is not only concentrated in the city of Bangkok; extremely-high quality gems and stones are also found in Chanthaburi, a city surrounded by rubies and sapphires mines and deposits. Here arrive the stones coming from Sri Lanka and from Burma, countries that produce the most beautiful rubies on earth.

Colombian emeralds and the king: diamond

The most precious emeralds in the world come from a deposit in Muzo, Colombia. This gem is also produced in Zambia, Brazil, Russia, Afghanistan, Pakistan and Madagascar.

JVF

As for the king of precious stones, diamond, its main production in the market today comes from Australia, Russia and from different African countries. Because of diamond’s strong demand its price is kept high, despite its noticeable diffusion and the profound cultural change carried out mostly by young people who, for different reasons, tend to purchase less diamonds, which led big producers to develop targeted campaigns to reach their goals.

Speaking of rubies, the deposits of Mogok in Burma are the most productive sites, followed by the deposits in Thailand and Sri Lanka. Sapphires are also produced in Sri Lanka, while emeralds are produced, besides Colombia, in Brazil, Siberia and Rhodesia.