U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points at 8:35 AM EST.S&P 500 Index futures slipped 2 points following release of the December Core PCE Price Index at 8:30 AM EST. Consensus was an increase of 0.2% versus a gain of 0.1% in November. Actual was an increase of 0.2%. On a year-over-year basis, consensus was an increase of 3.0% versus a gain of 3....Read More
(IDEX Online) - Thieves used a vehicle as a battering ram to smash their way through glass doors into a jewelry store in Windsor, Ontario, Canada.They fled with what police describe as "substantial" amount of jewelry from Griffin Jewellery Designs in a 4am heist at the Tecumseh Mall on Tuesday (23 January).The front of the building was badly damaged and the vehicle used in the ramming was later fo...Read More
(IDEX Online) - Trans Atlantic Gem Sales (TAGS) sold just over $14m of rough at its latest tender in Dubai, with buyers appearing a little more positive.Bidding was strong across all ranges, the company said, and many prices 3grs to +10cts were up a few per cent on the previous tender in December.However a quarter of the goods offered - 20,000-plus carats valued at over $20m - remained unsold.Nine...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points at 8:35 AM EST.Index futures gained 10 points following release of economic news at 8:30 AM EST. Consensus for December Durable Goods Orders was an increase of 0.5% versus a revised gain of 5.5% in November. Actual was unchanged. Consensus for first estimate of fourth quarter annualized real GDP was an increa...Read More
(IDEX Online) - Six people are reported to have died when a small plane headed for Rio Tinto's Diavik diamond mine, in Canada's remote Northwest Territories, crashed shortly after take-off yesterday (23 January).There has been no official confirmation of the death toll, but AFP (Agence France-Presse) quotes an aviation source as saying six people died and one survived.The tragedy comes l...Read More
(IDEX Online) - Richemont saw revenue from Buccellati, Cartier, Van Cleef & Arpels and its other jewelry brands climb 12 per cent to $4.3bn (at constant exchange rates) during the last three months of 2023.Specialist watchmakers sales rose by 3 per cent, reflecting a retail outperformance, notably at A. Lange & Sohne, IWC, Jaeger-LeCoultre and Vacheron Constantin.The Swiss luxury conglomer...Read More
(IDEX Online) - Mountain Province Diamonds (MPD) today (24 January) reported FY 2023 sales of $243.7m, down 18 per cent on the previous year.The Toronto-based miner sold 2.7m carats in both 2022 and 2023 from the Gahcho Kue mine it operates as a joint venture with De Beers in Northwest Territories, Canada, but average per carat prices fell from $112 to $90.It said price drops reflected the lower-v...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 29 points at 8:30 AM EST.Bank of Canada's monetary statement is scheduled for released at 9:45 AM EST. The Bank's lending rate to major Canadian banks is expected to remain unchanged at 5.0%.Netflix gained $18.90 to $510.00 after increasing subscriptions in the fourth quarter greater than consensus. The company also of...Read More
(IDEX Online) - Kiran Gems has moved staff out of the new Surat Diamond Bourse (SDB) just months after it opened, and back to Mumbai's Bharat Diamond Bourse (BDB). It's a blow for the brand new $388m SDB - the world's largest office building - which opened last November but has so far failed to attract major tenants aside from Kiran.Kiran Gems is a privately-owned company, desc...Read More
(IDEX Online) - Australian jeweler Michael Hill has closed six under-performing stores and axed some senior positions amid "challenging" retail conditions.Sales actually rose by 4.1 per cent during the half year ending 31 December 2023, to US$239m (AUS$362.8m), across the 302 outlets in Australia, New Zealand and Canada.Australia and New Zealand saw retail revenue rise by just over 10 per cent. St...Read More
(IDEX Online) - Canada's vast, frozen Nunavut territory has been granted control over its natural resources in a move that could attract prospectors seeking diamonds, gold and other deposits.De Beers is among a small number of miners which already have interests in the sparsely-populated Arctic region. It is seeking approval for the Chidliak Project, a diamond deposit on Baffin Island, Canada...Read More
(IDEX Online) - Christie's New York is to sell a collection of 32 watches owned by Sir Elton John, as part of a unique home clearance.The 76-year-old Rocketman singer is auctioning the contents of his home on Peachtree Road, Altanta, USA, (after which he named his 2004 album) in a series of eight sales. John, one of the top-selling solo artists of all time, is a passionate watch collecto...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points at 8:30 AM EST.United Airlines advanced $2.59 to $41.07 after reporting higher than consensus fourth quarter earnings. Zions Bancorp dropped $0.26 to $43.05 after reporting lower than consensus fourth quarter results.MMM dropped $5.00 to 103.02 after lowering first quarter 2024 guidance. Procter & Gamble a...Read More
(IDEX Online) - De Beers has introduced a new online "sealed bid" tender for some of its rough diamonds.The Offer, which went live last week, allows buyers to key in the price they're prepared to pay for a lot, unseen by other bidders.It is an additional sales channel rather than a replacement for the online auctions that have been taking place since 2008.Online auctions have accounted for th...Read More
(IDEX Online) - Arnold Schwarzenegger, former governor of California and star of The Terminator movies, was ordered to pay a $38,000 fine in cash after failing to declare an Audemars Piguet watch at Customs.He was stopped at Munich airport last Wednesday, en route to a Schwarzenegger Climate Initiative event in Austria, where the specially-made watch wnet on to sell at a charity auction for $295,0...Read More
(IDEX Online) - Registration for JCK 2024, the jewelry industry's key trade show, has opened.The Las Vegas show is expected to attract 18,000 visitors and 12,000 exhibitors, in line with last year's attendance.Organizers say the theme of its 2024 edition, which takes place from 31 May to 3 June, will be "love". Select events will start on 30 May."There are truly no connections like those...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 19 points at 8:30 AM EST. Boeing dropped $3.46 to $211.56 after the FAA recommended a door plug inspection on another 737 aircraft model.Archer Daniels Midland fell $8.12 to $60.07 after launching a probe on its accounting. Macy's added $0.47 to $18.10 after its board of directors rejected a private company buyout offe...Read More
(IDEX Online) - India's diamond industry is calling on the government to introduce for a range of tax and other breaks in its upcoming budget to ease the importation of rough stones.The Gem & Jewellery Export Promotion Council (GJEPC) wants a safe harbour rule for the sale of rough diamonds in Special Notified Zones (SNZs).It is also seeking the introduction of a Diamond Imprest License o...Read More
(IDEX Online) - Sarine says its latest software will revolutionize rough diamond planning, adding as much as 5 per cent to the value of a polished stone.The Israel-based company says it Most Valuable Planning (MVP) is is a fully-automated cloud-based service that will be offered as an optional service to its Advisor 8.0 rough planning software package, and will be charged on a per-use basis.It is...Read More
(IDEX Online) - LVMH, parent company of Tiffany & Co, TAG Heuer and many other jewelry brands, is reportedly in talks with TikTok to crack down on sales of counterfeit goods on the Chinese video-sharing app.The "shoppable video" marketplace TikTok Shop was launched in the US last September and aims to generate $17.5bn of e-commerce business this year, but it is becoming a popular m...Read More