Major industry groups in Asia have developed a coloured gemstone price guide aimed at promoting transparency, consumer confidence and fair practices in the gem and jewellery trade.

The Gems & Jewelry Trade Association of China (GAC), National Gemstone Testing Center (NGTC), Thai Gem and Jewelry Traders Association (TGJTA), and Gem, Jewelry and Precious Metals Confederation of Thailand unveiled the China-Thailand Colored Gemstone Reference Price Guide on the sidelines of the Shanghai Jewelry Exhibition 2023, which took place from June 22 to 25.

The price guide was created using a comprehensive data-evaluation model based on transaction prices collected by TGJTA and GAC.

Ye Zhibin, president of GAC and chairman of NGTC, highlighted the relevance and urgency of standardisation in the coloured gem trade. “China, as one of the major coloured gemstone markets, and Thailand, as one of the key processing and trading centres for coloured gemstones, shared historical responsibilities for this challenge,” added Ye. 

The industry groups said they want to encourage sustainable development in the global coloured gem industry by providing a standardised price system. 

“The mutual goals are to enhance the reputation of the gemstone and jewellery industries in both countries and strive to develop quality coloured gemstone products,” TGJTA noted.