(IDEX Online) - Christie's Geneva today (18 September) announced it will be selling the largest internally flawless fancy vivid blue gem ever to appear at auction history, with an estimate of $35m to $50m.The 17.61-carat diamond, named Bleu Royal, is set in a ring and has been part of a private collection for the last 50 years. It will be sold on 7 November as part of the Magnificent Jewels a...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points at 8:30 AM EDT.Walt Disney added $0.25 to $85.83. Raymond James launched coverage with an Outperform rating and a $97 target price.DoorDash added $1.77 to $82.70 after Mizuho upgraded the stock from Neutral to Buy.Dropbox fell $0.61 to $26.34 after William Blair downgraded the stockClorox dropped $2.26 to $14...Read More
(IDEX Online) - Russia's AGD Diamonds and its Belgian subsidiary Grib Diamonds have both been sanctioned by the US.The Department of the Treasury's Office of Foreign Assets Control (OFAC) has designated them in an attempt to limit Russia's revenue for its war effort from mining industries.Almost 100 other sanctions were imposed at the same time on Russian elites and its industrial b...Read More
(IDEX Online) - Twin nieces of the late Princess Diana have been appointed as brand ambassadors to Boodles, the luxury British jeweler.Lady Eliza and Lady Amelia Spencer, aged 31, are daughters of Princess Diana's younger brother, Charles Spencer, and his first wife, Victoria Lockwood.The royal pair, brought up in South Africa and now living in London, will represent Boodles, a privately-held...Read More
(IDEX Online) - A new high jewelry fair, billed as a first for collectors and enthusiasts, is to take place at an exclusive venue near the Eiffel Tower, in Paris.ArtVendome borrows its name from the iconic Place Vendome, home to Cartier, Boucheron, Van Cleef & Arpels and Chaumet and many other maisons.Richard Steeve Giraud, founder and CEO of ArtVendome, real estate investor and avid art colle...Read More
(In association with Bharat Diamond Bourse) The fifth edition of Bharat Diamond Week (BDW) will give India's smaller manufacturers a chance to connect with big buyers from abroad.Organizers say they already have delegations confirmed from China, Saudi Arabia, Sri Lanka, Cyprus, Brazil, Latin America, Japan and UAE for the three-day event.They're expecting more international buying t...Read More
(Corrects Sept. 15 story to clarify Roxgold is a subsidiary ofFortuna and Jorge Ganoza is CEO of Fortuna not Roxgold) SEGUELA, Ivory Coast, Sept 15 (Reuters) - Canada'sRoxgold, a subsidiary of Fortuna Silver Mines , onFriday opened its gold mine in the north-western region of IvoryCoast, aiming to produce about 130,000 ounces of gold per year,the company said on Friday."We have more than 10...Read More
Equity index futures were mixed this morning. S&P 500 futures were down 1 point at 8:35 AM EDT.S&P 500 futures slipped 3 points following release of the September Empire State Manufacturing Survey at 8:30 AM EDT. Consensus was a recovery to -10.00 from -19.00 in August. Actual was a recovery to +1.9.Today is "quadruple witching" day, the last trading day for listed September equity and ind...Read More
(IDEX Online) - A new TV drama, Everybody Loves Diamonds, is inspired by the infamous 2003 Antwerp Diamond Heist, and will stream next month.It follows a team of small-time Italian thieves led by Leonardo Notarbartolo (Kim Rossi Stuart), as they beat top-level security to steal $100m-plus of loose diamonds, gold and jewelry from the Antwerp Diamond Centre.The heist remains the biggest diamon...Read More
(IDEX Online) - Organizers of a two-day trade show for UK jewelers were forced to abandon the event part way through the first day - after what they described as a "serious security breach".The Company of Master Jewellers (CMJ) told 80 exhibitors and their guests that the threat was "too severe to ignore". Its Autumn Trade Event was reportedly put in lockdown on Sunday 10 September after atte...Read More
Index futures were higher this morning. S&P 500 futures were up 15 points at 8:35 AM EDT.Index futures dropped five points following release of economic news at 8:30 AM EDT:August Producer Price Index was expected to increase 0.4% versus a gain of 0.3% in July. Actual was an increase of 0.7%. On a year-over-year basis, August PPI was expected to increase 1.2% versus a gain of 0.8% in July. Act...Read More
(IDEX Online) - De Beers today said it will no longer sell lab grown engagement rings, after a three-month trial reinforced its belief that they are "unsustainable" as a commercial proposition."Retailers already need to double the number of LGD carats sold every two years just to maintain a flat absolute gross profit," the company said.Lightbox, the De Beers lab grown division, dipped its toe into...Read More
(IDEX Online) - Five men have been charged with using companies based in New York City's Diamond District to process over $600m in illegal money transfers.They are accused of using numerous diamond, gold, and jewelry companies as fronts to conduct hundreds of millions of dollars in illegal financial transactions for customers - including converting cash to checks or wire transfers - in exchan...Read More
(IDEX Online) - Greenland's only ruby mine has closed, after reportedly running up $74m of debts.Greenland Ruby, which started production of rubies and pink sapphire mining in 2017, has laid off its remaining staff and put the mine, at Aappaluttoq, in the southwest of the country, on care and maintenance.The company, owned by Norway-based LNS Group, originally predicted a 10-year life for the...Read More
(IDEX Online) - Israel is to host its second annual Diamond Conference next April, together with a three-day Diamond Exhibition.Both events are part of the International Diamond Week, hosted by the Israel Diamond Exchange (IDE), in Ramat Gan.The inaugural Israel Diamond Conference, which took place in March, was the country's first international event since the Covid pandemic.It brought toget...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 2 points at 8:35 AM EDT.Index futures were unchanged following release of the U.S. August Consumer Price Index report at 8:30 AM EDT. Consensus was an increase of 0.6% versus an increase of 0.2% in July. Actual was an increase of 0.6%. On a year-over-year basis, consensus was an increase of 3.6% versus a gain of 3.2%...Read More
(IDEX Online) - Mining and diamond magnate Beny Steinmetz is due to re-appear before a court in Cyprus on Thursday (14 September) after he was detained on an arrest warrant issued by Romania.He was convicted, in his absence, of a $152m land deal fraud by a court there and sentenced to a five-year jail term in December 2020.Steinmetz, 65, (pictured) a French-Israeli citizen, was detained at Larnaca...Read More
(IDEX Online) - Almost two thirds (63 per cent) of high-income African-Americans prefer to buy jewelry from brands that reflect or promote their cultural heritage. They are also likely to overlook price for a quality shopping experience, according to a new report by market research firm The MVEye and Stephanie Coleman, publisher of Tre Magazine.Their decisions to buy luxury jewelry pieces are...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points at 8:30 AM EDT.Oracle dropped $6.74 to $119.89 after reporting less than consensus fiscal first quarter revenues. Also, Davidson lowered its target price from $115 to $105.Moderna added $0.91 to $106.71 after the FDA approved its MRNA shots for people older than 12 years.Casey's General Stores added $7.60 to...Read More
(IDEX Online) - A co-founder of HB Antwerp says he's taking legal action after he was forced out over what the company says was a "sharp difference in strategic vision and approaches to business".Managing partner Oded Mansori was part of the team that established HB in 2020 as a technology-driven startup aimed at disrupting diamond cutting and forging innovative deals.He said, in a press rele...Read More