(IDEX Online) - The IDEX Polished Price Index suffered a sixth consecutive month of decline in September. It was down 2.34 per cent, the biggest drop since the Index started falling early in March. In August it fell by 2.31 per cent. The September decline was almost a straight line, much as it has been in recent months. The Index began falling in early March. It was down 2.1 per cen...Read More
(IDEX Online) - Tests on a lab grown diamond revealed an unexpected orange phosphorescence, a possible consequence of defects internal crystal plane.The CVD-produced 1.547 carat, emerald cut H / VS1 stone was submitted to the Gemological Science International (GSI) Lab in Mumbai for post growth treatment identification.Most CVD (Chemical Vapor Deposition) diamonds show an orange, red, blue and som...Read More
(IDEX Online) - An attacker is seen emptying jewelry cabinets after brutally pistol-whipping the owner in Wilmington, Delaware, USA.The man, identified by police as Calvin Ushery, 39, repeatedly hit his victim in the head with a gun.The 68-year-old victim, a Korean American, collapsed to the floor and a surveillance camera shows Ushery climbing over the counter and stealing items. According t...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 22 points in pre-opening trade.Crude oil gained $2.35 to $82.84 on reports that OPEC + will reduce production by one million barrels per day when they meet this Wednesday.Celanese dropped $0.74 to $90.60 after Deutsche Bank lowered its target price from $140 to $110.Dupont eased $0.25 to $50.16 after Deutsche Bank lowe...Read More
RAPAPORT... A richly colored diamond initially suspected to be treated soared past expectations at Heritage Auctions last week, fetching $1.8 million and setting a record for the Texas-based company.The round brilliant, 1.21-carat, fancy-orangy-red, I2-clarity stone went for 12 times its presale high estimate of $150,000, Heritage reported last week following the Thursday auction. Before the...Read More
RAPAPORT... Hong Kong's retail sales of jewelry and other hard-luxury products increased for the fifth consecutive month as the coronavirus situation eased.Revenue from jewelry, watches, clocks and valuable gifts rose 4.3% year on year to HKD 3.3 billion ($420.1 million) in August, the municipality's Census and Statistics Department reported Friday.Sales across all retail categories slipped 0...Read More
RAPAPORT... Belgium's parliament has voted in favor of a new banking law, paving the way for easier access to financial services among Antwerp's diamond dealers.The Basic Banking Law, which must still pass further obstacles, guarantees fundamental banking services to all Belgian companies. Businesses that suffer three refusals from a bank may file a request to a new Basic Banking Services Cha...Read More
(IDEX Online) - Indian's diamond industry is urging banks to raise loan limits after the rupee hit a record all-time low against the dollar. Export credits are fixed in rupee, leaving diamantaires less and less able to buy rough supplies. They have been calling on the government-owned Reserve Bank of India to follow a 2013 regulatory directive designed to insulate exporters from some currency...Read More
(IDEX Online) - Losses among rounds were less marked than last month, as seasonal demand increased. Goods of 0.50-cts and up showed more mixed movement, and fancies saw significant gains, especially among 1.00-cts-2.99-cts goods. There has been some pickup in business in the last two or three weeks, though not what we'd expect in "normal" times.Gains among commercial goods (0.50-cts to 2.00-c...Read More
(IDEX Online) - Scientists now believe there is water far deeper below the earth's surface than originally thought - thanks to rare inclusions in diamond sent for routine grading by GIA.The 1.5-ct D-color gem recovered at the Karowe mine, in Botswana, contained minerals which turned out to be hydrous (water-bearing).Examination of the diamond using advanced, non-destructive methods concluded...Read More
News: Diamond trading quiet over Jewish holidays. Dealers cautious due to market slowdown as polished prices continue decline. US jewelers optimistic for 4Q. Stock market slump and strong dollar affecting sentiment. Volatile euro and record-low Indian rupee (INR 81.90/$1) squeezing dealer liquidity. Singapore show opens to mixed expectations; Chinese buyers limited by Covid-19 travel restrictions...Read More
RAPAPORT... Customers left almost half of the diamonds on the table at the latest Trans Atlantic Gem Sales (TAGS) rough tender as the weak market dented demand, the Dubai-based company reported.TAGS presented rough worth $25 million at the smaller-than-usual tender, which took place in Dubai's Almas Tower from September 21 to 28, it said Wednesday. It featured the full range of sizes, mainly...Read More
RAPAPORT... The European Union is proposing a fresh package of restrictions on Russian goods but is leaving diamonds untouched, according to the Politico news website.The new sanctions ban imports of several steel products and outlaw the export of certain semiconductors to Russia, the outlet said Wednesday, citing a draft European Commission document that was not yet public. Russian rough is...Read More
(IDEX Online) - The European Union yesterday proposed an eighth round of sanctions against Russia, but made no mention of outlawing its diamonds.Five of the bloc's 27 countries, including Poland, Estonia, Latvia, and Lithuania, have reportedly called for diamond sanctions.The USA sanctioned rough diamonds from Russia soon after it invaded Ukraine in February, but the EU did not follow suit.Be...Read More
RAPAPORT... Lucapa Diamond Company has recovered a 113-carat, type IIa rough at its Lulo mine in Angola, its fifth stone over 100 carats this year and the third this month.The new discovery joins that of a 131-carat diamond last week and a 160-carat rough earlier this month, Lucapa said Thursday. All three stones are high quality. Lulo also produced a 170-carat pink in July.In total, Lucapa has un...Read More
(IDEX Online) - Russian miner Alrosa has discovered 22 new diamond deposits in Zimbabwe following a $12m exploration program in a joint venture with the country's government.An announcement about the findings was made by Zimbabwe's President Emmerson Mnangagwa (pictured) during a meeting at the United Nations General Assembly, in New York.He indicated that Alrosa will be allowed to work...Read More
(IDEX Online) - Customs officers in the US seized a shipment from Hong Kong of 700 fake Cartier Love bracelets that would have been worth almost $9m if genuine.They suspected they were counterfeit because they "lacked fine details, were constructed from cheap material, and contained fake inlayed diamonds".The bracelets arrived at the Port of Cincinnati, Ohio, and were destined for an address in th...Read More
(IDEX Online) - A Graff necklace featuring a 13.88-carat Columbian emerald sold for just over $575,000 at Bonhams, London - more than five times its pre-sale estimate. It was the top selling piece in the London Jewels auction of over 200 lots, including many 18th- and 19th-century antiques, as well as art deco items.The detachable pear-shaped emerald drop (pictured) is suspended from a series...Read More
U.S. equity index futures were lower this morning at 7:30 AM EDT. S&P 500 futures were down 30 points in pre-opening trade..Next estimate of U.S. annualized second quarter real GDP is scheduled for release at 8:30 AM EDT is expected to remain unchanged at -0.6%.Starbucks added $0.19 to $87.30 after the company increased its dividend by 8%.Vail Resorts gained $8.36 to $218.65 after reporting a...Read More
RAPAPORT... Gemfields' earnings more than doubled in the first half of the year as the colored-stone miner returned to its usual auction cycle and demand strengthened.Net profit after tax came to around $56.7 million for the six months ending June 30, compared with $23.8 million a year earlier, the company said Monday in a trading update. Revenue from the Montepuez ruby mine in Mozambique ros...Read More