(Updates prices) By Pratima Desai LONDON, Sept 5 (Reuters) - Copper prices steadied on Mondayas worries about demand in top consumer China were offset by theprospect of U.S. interest rates peaking at a lower level thanpreviously expected. Benchmark copper on the London Metal Exchange (LME)was up 0.2% at $7,651 a tonne at 1614 GMT. China's weak property and industrial sectors, accounting fora large...Read More
RAPAPORT... The Gemological Institute of America (GIA) has spotted lab-grown stones and a simulant in a parcel of four blue gems submitted as natural sapphires for identification and origin reports.The largest revealed polish lines on the surface, as well as gas bubbles and flow marks associated with blue coloration, when examined under a microscope, the GIA reported last week in the summer 2022 i...Read More
(IDEX Online) - A small-scale miner unearthed over 5.2kg (11lbs 8oz) of Tanzanite - one of the world's rarest gemstones - making him an overnight millionaire.It is found only in a four-mile strip of Tanzania, near the Mererani Hills in the north of the country.Anselim Kawishe found two stones, with a combined 5.2kg weight, after 15 years of searching."I did not expect that there will be a day...Read More
We will return tomorrow with all the news in the market. See you then!More from the network: Stock Market Outlook for September 19, 2022Stock Market Outlook for September 16, 2022Stock Market Outlook for September 15, 2022Stock Market Outlook for September 14, 2022Stock Market Outlook for September 13, 2022Read More
RAPAPORT... Lucapa Diamond Company has recovered a 160-carat, high-quality rough from its Lulo mine in Angola, the sixth-largest stone the deposit has yielded.The company found the type IIa diamond at the same alluvial mining block from which it unearthed a 170-carat pink - the Lulo Rose - in July, Lucapa said last week. The new addition marks the 28th diamond over 100 carats from Lulo.Recently, L...Read More
RAPAPORT... The International Gemological Institute (IGI) has added a cut grade to its reports for loose fancy-shaped diamonds that will assess the influence of cut quality on light behavior.IGI will offer the new category to manufacturers as an optional feature for the first six months, it said last week. The lab originally piloted the fancy-shape cut grade, which will be implemented at all 20 of...Read More
RAPAPORT... Hong Kong's hard-luxury sales rebounded in July as the job market improved, giving shoppers more spending power.Sales of jewelry, watches, clocks and valuable gifts jumped 28% year on year to HKD 4.08 billion ($519.4 million) for the month, the municipality's Census and Statistics Department reported last week. The figure was also strong compared to the same period the previous year, w...Read More
(IDEX Online) - A Swedish firm is selling diamond-encrusted versions of the Apple Watch 7, with a $15,000 price tag.Golden Concept says it will make a limited edition of just seven. Each watch features a special case, carved from a titanium block and set with 443 diamonds with a total weight of four carats.The company, which describes itself as an aftermarket electronic customization service, says...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 26 points in pre-opening trade. U.S. equity index futures moved higher following release of the August Employment Report at 8:30 AM EDT. Consensus for August non-farm Payrolls was a drop to 318,000 from revised 526,000 in July. Actual was 315,000. Consensus for August Unemployment Rate was unchanged from July at 3.5%....Read More
* Tin tumbles to weakest level in 19 months * GRAPHIC-2022 asset returns: (Updates prices) By Eric Onstad LONDON, Sept 1 (Reuters) - Aluminium prices stumbled totheir lowest in 16 months on Thursday while other based metalsalso slid on renewed worries about weak demand after downbeateconomic data in top metals consumer China amid fresh COVID-19lockdowns. Benchmark aluminium on the London Metal Exc...Read More
News: US market holding up well, but international trading under pressure with significantly weaker demand. China slow amid continued negative impact of Covid-19. Dealers uncertain about price levels. 1 ct. RAPI -3.6% in Aug. Top brands and retail programs buying at stable prices. Independents focused on memo. Polished inventory rising due to slowdown. Rough premiums declining on secondary market...Read More
RAPAPORT... Sales and earnings fell at Signet Jewelers in the second fiscal quarter as inflation hit consumer spending and the sector's post-lockdown rebound tailed off.Revenue dropped 1.9% year on year to $1.75 billion in the three months ending July 30, the retailer reported Thursday. Net profit declined 35% to $145.4 million.The US company cited the "impact of the heightened inflationary p...Read More
RAPAPORT... A yellow rough diamond weighing 151.60 carats will be the star item at Mountain Province's sale in Antwerp later this month.The octahedron with "exceptional clarity" will be among more than 90 special stones available from the company's Gahcho Ku?(C) mine in Canada, the company said Wednesday. The tender is Mountain Province's largest offering of gem-quality rough diamonds exceedi...Read More
RAPAPORT... When demand slides, India's diamond industry faces its fair share of challenges. As the largest manufacturing center, accounting for an estimated 90% of global polished goods, it is the market maker: How it buys rough and sells polished sets the tone for the rest of the trade. With both rough supply and polished demand declining in recent months, diamond cutters are navigating a comple...Read More
RAPAPORT... Gem Diamonds' earnings slumped in the first half of 2022 as the average selling price dropped and the Russia-Ukraine war caused a jump in fuel costs.Net profit fell 51% year on year to $8.3 million for the six months, the miner reported Thursday. Revenue slipped 4% to $100 million.Demand and prices for goods from the company's high-value Let??eng mine in Lesotho was strong, with t...Read More
(IDEX Online) - There were significant losses among rounds, as the war in Ukraine enters its seventh month. A more mixed picture among fancies. Indian manufacturers are still filling the supply gaps, especially small goods, by switching to lab growns. However Alrosa is reportedly selling $250m of rough a month despite sanctions, circumventing dollar restrictions by accepting rupee payments. Alrosa...Read More
RAPAPORT... Marriage is important. Commitment is important. Love isimportant. Engagement and wedding rings are important.These things are not just a fad. They are meant to last foreverand establish the foundation of personal identity. Of course, everyone is an individual with an individualidentity. But your identity is also shared by the people connected toyou. No connection is more important...Read More
RAPAPORT... Hong Kong's polished-diamond imports increased 1% year on year to $7.26 billion in the first half of 2022, according to the Diamond Federation of Hong Kong, China. The average price of shipments rose 11%, offsetting a 9% drop in volume. Hong Kong Trade Data for January to June 2022 Read More
(IDEX Online) - Members of the IDEX diamond trading network can now search, buy and sell Lab Grown diamonds online for the first time. The new feature has been introduced as part of IDEX's Guaranteed Diamond TransactionsTM, the fully automated online diamond trading service. All Lab Grown diamond listings are uploaded in separate inventory files to assure no confusion with natural diamon...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 22 points in pre-opening trade. Costco added $1.70 to $523.80 after its August sales rose 11%Walt Disney advanced $1.80 to 113.88 on news that the company is exploring an approach to membership similar to Amazon's Prime modelOkta dropped $7.08 to $84.35 after releasing second quarter results. Mizuho lowered its target...Read More