SEPTEMBER 25, 2019

With fewer than eight weeks to go to the opening of the 2019 CIBJO Congress in Manama, Bahrain, on November 18, 2019, the third of the CIBJO commissions’ Special Reports has been released. Prepared by the CIBJO Precious Metals Commission, headed by Huw Daniel, the report examines the increasing readiness of national authorities, particularly in the United States, to examine the integrity of the gold supply chain. The report also provides an overview of supply, demand and their effect on prices in the gold, platinum, palladium and silver markets.

“In a time of increasing uncertainty, investors predictably are seeking safe havens in these commodities, and that has implications on price. However, the outlook for demand is less clear, because the integrity of the gold supply chain has come under increasing scrutiny,” writes Mr. Daniel.

The focus on practices in the gold industry is coming from two different sources, the report notes. First, the mainstream media is intensifying reportage of “dirty gold” and issues around where and in what way the metal is sourced, and how it is moved through the supply chain. Second, the U.S government has given notice to the jewellery industry that, for purposes of national security, imported goods should be labelled with all of the countries they have passed through on the journey to the American consumer.

But, despite the increased pressure, the market-analysis section of the report predicts a favourable supply-demand balance for precious metals. But general, however, it is not jewellery that is the deciding factor, but rather the investment market or the automotive sector. In the case of palladium, for example, there has been increasing pressure on supply due to to auto-catalyst systems, because of stricter fuel emissions legislation being imposed globally.

To download a full copy of the CIBJO Precious Metals Commission’s special report, PLEASE CLICK HERE.

SEPTEMBER 18, 2019

With fewer than nine weeks to go to the opening of the 2019 CIBJO Congress in Manama, Bahrain, on November 18, 2019, the second of the CIBJO commissions’ Special Reports has been released. Prepared by the CIBJO Responsible Sourcing Commission, headed by Philip Olden, the report provides an overview of the first Responsible Sourcing Blue Book, which was approved in January of this year. It defines a universally agreed-to set of recommended responsible sourcing principles, which can be applied by all members of the greater jewellery industry.

“CIBJO has steadfastly stated that no ethical member or company in the jewellery business should be denied the opportunity to participate because, at any particular point in time, it lacks the financial capacity to meet the demands of a compliance system. At the same time, CIBJO does not accept the contention that a company with limited financial resources should be exempt from conducting any form of responsible sourcing due diligence,” writes Mr. Olden.

“The Responsible Sourcing Blue Book indicates what initial steps can be taken at minimal expense and effort, and proposes a programme of continual improvement, which companies can apply at their own pace,” Mr. Olden adds. The system suggested is based on the OECD’s Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas.

The special report also outlines a programme that CIBJO’ Responsible Sourcing Commission has initiated with the Coloured Gemstone Working Group, facilitated by The Dragonfly Initiative, involving the creation of an online toolkit that will provide supporting documentation to help companies address the Responsible Sourcing Blue Book guidance. It will be presented at the upcoming CIBJO Congress in Bahrain, and subsequently will be made available to the industry at no cost.

To download a full copy of the CIBJO Responsible Sourcing Commission’s special report, PLEASE CLICK HERE.

SEPTEMBER 11, 2019

With fewer than 10 weeks to go to the opening of the 2019 CIBJO Congress in Manama, Bahrain, on November 18, 2019, the first of the CIBJO commissions’ Special Reports has been released. Prepared by the CIBJO Marketing & Education Commission, headed by Jonathan Kendall, the report returns to what has been defined as the next great jewellery-consuming group, Generation Z, providing a breakdown of what the industry needs to consider if it is to ensure that jewellery remains a favoured purchase.

Generation Z refers to young consumers, who currently are 15 to 25 years of age.

“Gen Z is coming to our markets very soon if it has not already arrived in reality,” writes Mr. Kendall. “Its members are forecast to spend a whopping $143 billion this year alone. So we better get them on our side if we want to enjoy a rosy future. In fact, the future success of the jewellery industry will depend on our understanding the needs and wants of Generation Z. Get this right and we can all look forward to strong profitable years moving forward. Get it wrong and we could be destined for the scrap heap – not overnight maybe, but ultimately.”

Communicating predominantly via the social media, studies show that Generation Z is more environmentally conscious and gender neutral than any generation that preceded it. It celebrates authenticity, diversity and human imperfection. It is more likely to heed the advice of a friend, rather than a celebrity.

“Gen Z is prepared to splurge but it must be worth it. The more added value the better, and that can come from its environmental credential or its social value,” notes Mr. Kendall.

To download a full copy of the CIBJO Market & Education Commission’s special report, PLEASE CLICK HERE.