U.S. equity index futures were higher this morning. S&P 500 futures were up 26 points at 8:35 AM EST.The Canadian Dollar slipped 0.05 at U.S.74.22 cents following release of Canada's November Retail Sales at 8:30 AM EST. Consensus was unchanged versus a downwardly revised gain of 0.5% in October. Actual was a decline of 0.2%.PPG Industries dropped $1.00 to $143.95 after projecting lower than c...Read More
(IDEX Online) - Louis Vuitton is launching a jewelry collection featuring a unique Monogram Star diamond cut - replicating the fashion brand's famous pattern, as used in handbags, suitcases, leather goods and accessories.Diamonds cut as a 53-facet four-pointed star are being set in rings, earrings and pendant necklaces that will be launched next week in Singapore as part of the LV Diamonds co...Read More
(IDEX Online) - Diamond production in Angola will increase by 50 per cent this year, from 9.7m carats in 2023 to 14.6m carats, says the national diamond company Endiama.And revenue will climb from $1.51bn in 2023 to $2.5bn this year, Jose Ganga Junior, chairman of Endiama's board of directors, told a press conference. He said the production plan for 2024 was "quite challenging".Angola forecas...Read More
(IDEX Online) - A jewelry store manager in New York admitted selling lab grown diamonds as natural, and stealing more than $137,000 in jewelry from customers.Laura Bee, aged 59, switched the $15,000 natural diamond in a friend's engagement ring for a $2,000 lab grown when she took it for repair.She pleaded guilty to grand larceny in the third degree while working at Ever Love Jewelry in...Read More
(IDEX Online) - India's exports of polished diamonds slid again during December, but rough imports soared, as expected, after the two-month voluntary ban.Foreign sales during the month fell almost 22 per cent to just $862m compared to $1.1bn in November, according to new figures from the GJEPC (Gem and Jewellery Export Promotion Council). Exports were $1.26bn in October and $1.67bn in Se...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 21 points at 8:35 AM EST.Index futures were unchanged following release of the January Philly Fed Index at 8:30 AM EST. Consensus was -7.0 versus -10.5 in December. Actual was -10.6Charles Schwab dropped $0.86 to $63.45 after reporting less than consensus fourth quarter revenues. Discover Financial Services dropped $9....Read More
(IDEX Online) - Diamonds Do Good, the global non-profit, has announced $365,000 of grants for diamond mining and manufacturing communities.It's supporting girls' education and entrepreneurship training in Tanzania, where it launched the Diamonds Do Good Bracelet (pictured) to raise funds. Diamonds Do Good (DDG) is also empowering youth with HIV through in Botswana, supporting...Read More
(IDEX Online) - Petra's Q2 revenue fell by almost 15 per cent, faced with what the company described as "continued lower diamond pricing environment."Rough sales were down from $105.7m to $90.2m. Half-year sales were down just over 9% from $207.1m in 2023 to $187.8m, the UK-based miner said in its H1 FY 2024 Operating Update published yesterday (16 January). There was no revenue from the sale...Read More
(IDEX Online) - Russia's finance ministry says Alrosa has a "colossal safety margin" and currently needs no intervention to survive sanctions imposed by G7 nations from 1 January.The state-controlled miner has previously offloaded diamonds it couldn't sell to the Gokhran - Russia's state-run repository of precious stones and metals.Russia's deputy finance minister Alexei Moisey...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 24 points at 8:35 AM ESTIndex futures slipped 2 points following release of December U.S. Retail Sales at 8:30 AM EST. Consensus was an increase of 0.4% versus a gain of 0.3% in November. Actual was an increase of 0.6%.Progress Software advanced $2.54 to $56.15 after reporting higher than consensus fourth quarter reve...Read More
(IDEX Online) - India will lead demand for natural diamonds in 2024, says David Kellie, CEO of Natural Diamond Council (NDC), as US buyers increasingly switch to lab growns."The Indian market remains the strongest growth market in the world because of its strong financial position and changing demographics," he told The Economic Times, in India."Indian women are now financially stronger, and they...Read More
(IDEX Online) - Rio Tinto today (16 January) announced a 50 per cent drop in its Q4 diamond production at Diavik, Canada's largest diamond mine.It said the closure of two kimberlite pipes - one underground, the other open pit - towards the end of the year had impacted output.Rio Tinto, the world's second-largest metals and mining corporation, reported production at Diavik, its only diamo...Read More
(IDEX Online) - De Beers has reportedly slashed rough diamond prices across the board by at least 10 per cent.Some larger goods have been discounted by as much as 25 per cent as the first Sight of the year opened in Gaborone, Botswana, yesterday (15 January), according to insiders. De Beers does not comment on prices.The UK-based miner is keen to push sales after its last two Sights of 2023 brough...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 14 points at 8:35 AM EST. U.S. equity index futures increased 6 points following release of the January Empire State Manufacturing Survey at 8:30 AM EST. Consensus was an improvement to -7.10 from -14.50 in December. Actual was -43.7.The Canadian Dollar added 0.14 to US74.32 cents following release of Canada's Decembe...Read More
(IDEX Online) - Hong Kong-based Chow Tai Fook (CTF) is finally enjoying the effects of the long-awaited bounce in tourism after China's Covid restrictions were lifted last August.It has posted a 46.1 per cent increase in its Q3 retail sales value, helped by a Christmas surge and by Chinese New Year celebrations in late December. That's a notable improvement on its a 5.8 per cent increase...Read More
(IDEX Online) - A British auctioneer has admitted that his story of a 34-carat diamond, worth $2.5m, being found among worthless bric-a-brac at a garage sale was a complete fabrication.Mark Lane, of Featonby's Auction House, told a court he made it all up to generate media interest, in the hope it would save his 100-year-old family business.At the time, Lane told reporters an unnamed woman in...Read More
(IDEX Online) - The owners of Ekati, Canada's first diamond mine, say they plan to extend its life by developing its underground operations. Australia-based Burgundy aims to continue operations "towards 2040", it said in a letter to shareholders dated 9 January. The initial mine life was forecast as 2015 when it opened in 1998.It plans to expand underground mining at one of the mine'...Read More
(IDEX Online) - Lucara has announced its first notable recovery of 2024, a 166-ct Type IIa gem.It is the 328th +100-ct diamond since the Karowe mine, in Botswana, began commercial production in 2012.The stone was recovered in the Coarse XRT unit from direct milling of ore sourced from the M/PK(S) unit of the South Lobe.Karowe has also yielded four +1,000-ct diamonds in that time, most recently a 1...Read More
(IDEX Online) - Canadian miner Diamcor says 2024 is a "year of opportunity" after two loss-making years at its Krone-Endora at Venetia project, in South Africa.It suffered net losses of $762,000 in 2023 as it battled power supply issues and $2.4m in 2022, but said in a statement that it had navigated its way through the complex global and industry issues of recent years.Diamcor acquired Krone-Endo...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:35 AM EST.S&P 500 futures recovered 13 points following release of the U.S. December Producer Price Index at 8:30 AM EST. Consensus was an increase of 0.1% versus no change in November. Actual was down 0.1%. On a year-over-year basis, consensus was an increase of 1.3% versus a gain of 0.9% in November. A...Read More