Gem and jewellery industry disappointed with the interim budget

Stocks of jewellery companies too were drastically affected

Post By : IJ News Service On 18 February 2014 1:28 PM
The Diamond Commission of CIBJO, The World Jewellery Confederation, has released its annual report intending to reach industry-wide agreement on nomenclature that accurately distinguishes between natural and synthetic diamonds. The report has been released prior to the 2010 CIBJO Congress, slated for February 19, in Munich, Germany. Within the days preceding the Congress, Udi Sheintal and Jon Phillips, respectively the president and vice president of the Diamond Commission will meet with representatives of the International Diamond Council in London, to ascertain if a joint set of nomenclature for natural and synthetic diamonds can be created. "Hopefully all participating parties will concur that the lack of an agreed to nomenclature for diamonds - natural and synthetic - ultimately will affect consumer confidence negatively across the globe," they wrote in the report. %% At the 2009 CIBJO Congress in Istanbul, the organisation decided not to affect any change in the nomenclature permitted for gem-quality synthetic diamonds, resulting that at present, the only descriptor permitted by CIBJO is the adjective "synthetic," not for any of the additional terms that were proposed, such as "man-made," "laboratory-grown," "laboratory created" or "(company name)- created." %% Taking the similar approach, the Diamond Commission report looks at the misrepresentation of diamonds in the mass media, in-flight magazines and sales catalogues. Surely, without a common, joint directive from the major umbrella organisations, such as the WFDB, IDMA, IDC and CIBJO, offenders "will continue to get away with arguments that the nomenclature is not clear-cut and therefore ineffective," the report's authors state. %% The Diamond Commission report also features a study conducted by the Accredited Gemmologists Association (AGA) task force to look into the impact of lighting on colour-grading colourless diamonds. The Task Force was established in response to gemmologists and appraisers alleging that colourless diamonds exhibiting blue fluorescence were being over-graded by gem-testing laboratories.

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