1. Zale CEO Neal Goldberg Resigns

(January) After two years of falling sales and profits, Zale’s board dismissed the former Children’s Place president who wanted to bring a new approach to jewelry sales.

2. The Kimberley Process in Crisis

(June, July, October) Governments in the conflict-diamond certification scheme could never agree on what should be done with diamonds from Zimbabwe’s Marange region.

3. Pandora Goes Public

(September) The Dutch bead maker’s initial public offering raised nearly $2 billion, making it one of the most successful in Denmark’s history.

4. Gold Hits Record High, Crosses $1,400

(October) Gold’s continued climb—generally seen as a response to the dollar’s weakness—was great news for jewelers making money from trade-ins, but it also meant the metal was stocked less.

5. De Beers CEO Gareth Penny Steps Down

(July) The architect of De Beers’ controversial Supplier of Choice policy quit after five years trying to transform the 140-year-old diamond giant.