Gaza War Takes Luster Out of Israel's Diamond Trade Show

Israel Diamond Exchange forced to postpone next week's planned sales event.

Motti Kimche

The Israel Diamond Exchange is postponing next week's customized diamond sales event in Ramat Gan in the wake of the ongoing conflict in Gaza, the exchange announced Monday.

"In view of the current situation in Israel, we have decided to postpone the International Diamond Week in Israel – September 2014," organizers posted on their webpage for visitors who click on the "Click here to register!" button.
The home page of the Diamond Exchange's website is still counting down to the event, which was due to run September 1-4.

"The Diamond Week has been postponed for both security and insurance reasons," said Ya'akov Kattan, vice-president of the exchange said, according to industry website Rapaport News.

While the resumption of Hamas' rocket launches on Israeli territory was not considered a significant threat to visiting or local diamond traders, Kattan said the adjustments that would have been made for security and insurance purposes would have impeded vigorous trading on the bourse floor, Rapaport reported.

"All buyers and other involved parties have been duly informed and the board is currently considering alternative dates for the event," Yaakov Almor, Diamond Exchange spokesman, told Rapaport News.