Trade

Gemstone Trade Trading gems has been a global commercial activity since early history. In today’s modern world with more technology available and a growing jewelry industry gemstone trade has increased in its value and importance to the world trade.

Gem prices were originally set according to the rarity and quality of the stones. Nowadays important factors such as brand names of jewelry designers, fashion trends, market forces and increasingly important ethical concerns play determining roles in the setting of the prices of gemstones. From regular semi precious gemstones to extreme rare collector’s precious gems, prices range from 1 dollar per carat up toa 5 or 6 figure price tags per carat.

Brazil is known to be the main exporter of amethysts, the South East Asian region is known for providing most of the natural ruby gems and Central and West African countries such as Sierra Leone, account for the largest providers of sapphires and diamonds in the world. Worth billions of dollar every year, gem stone trade has also become increasingly infamous due to ethical concerns. Politically unstable African countries have become known for trading conflict diamonds as a way of funding their revolutionary and mercenary groups.

In addressing this issue the international community pushed for further regulation to attest that the labor process of mining diamonds did not involve children and also to certify that the revenues from diamond trade did not fund criminal or rebel activities. In assuring fair trade of precious gems stones, the U.S Federal Trade Commission has developed complex standards to prevent deceptive trade practices and to allow for disclosure of all processes gemstones have undergone.

If you are interested in finding out more about gemstones trade or just want to make sure your precious diamond engagement ring is not a “blood diamond”, standard setting agencies like the UN or the U.S Federal Trade Commission have set created regulation that jewelry houses and trading companies need to comply with , in assuring you get the appropriate value and quality for your favorite jewelry.