GemEx Systems announced the introduction of GemEx IdentiView System, which the company said is the first instant diamond identification tool that positively identifies a diamond based on its unique cut faceting.

The U.S. jewelry industry is gearing up to counter any negative effects from the upcoming film "The Blood Diamond" which shows how illicit gem trade fueled bloody civil wars, a trade group said.

British artist Damien Hirst is in the midst of creating an expensive work of art -- a skull cast in platinum and encased in some 8,500 diamonds.

GCAL (the Gem Certification and Assurance Lab) is issuing a diamond certificate that ensures diamonds have been responsibly mined and ethically traded – as well as thoroughly tested for natural origin and freedom from treatment.

Leviev, the new high end retail diamond jewelry effort by Lev Leviev, have opened a flagship boutique at 31 Old Bond Street in London. The first two floors of the five-storey listed building have been transformed into an 80 meter boutique. The rest of the building will become the company's UK headquarters.