MARKET INSIGHT – Mozambican rubies market outlook constructive, Gembridge chairman says

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By David Brough

GENEVA, Switzerland – Mozambican rubies will see increasing demand due to a shortage of supplies of Burmese (Myanmar) stones, Tony Brooke, Chairman of digital marketplace Gembridge, said.

Gembridge

Panel discussion about Value in African gems. Tony Brooke is second from left, wearing yellow tie.

African rubies had been looked down on by some market participants in recent years with a continuing focus on Burmese (Myanmar) rubies at the top end of the market, Brooke said during a panel discussion at GemGenève on May 7.

“African rubies are now in the ascendancy. Gems should be looked at on their own merit,” he said.

Gembridge’s registered traders have been actively promoting the market for Mozambican rubies, added Brooke, who was visiting Gembridge members at GemGenève.

He said he expected rising global demand, driven by China, to continue to push prices of African rubies higher in coming years due to expectations of limited new supplies from Myanmar.

GemGenève runs until May 8, 2022.