(IDEX Online) - Police officers patrolling a beach came to the rescue after a man lost the engagement ring he was about to present to his girlfriend.It fell out of his pocket at Myrtle Beach, South Carolina, USA, as he prepared to get down on one knee and pop the question.The unnamed man flagged down a passing police officer, who called in colleagues, including a police dog, to help search the san...Read More
(IDEX Online) - Lucara says the underground expansion plan at its Karowe diamond mine, in Botswana, will take longer and cost more because of technical problems.In an update issued yesterday, the Canadian miner said it now expects the project to cost $683m, an increase of 25 per cent on the original $547m estimate.Production from the underground project is now expected to start in the first half o...Read More
(IDEX Online) - Phillips Geneva, known for its luxury watch auctions, is to hold its first jewelry sale in November. The British auction house says it's building on the success of its jewelry departments in New York, London and Hong Kong, where it achieved historic annual sales totals in 2021 and 2022.The inaugural Geneva auction, on 6 November will feature a private collection of over 1...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points at 8:35 AM EDT. Index futures were unchanged following release of the July Empire State manufacturing survey at 8:30 AM EDT. Consensus was unchanged versus a gain of 6.6 in June. Actual was a gain of 1.1.Pepsico slipped $2.21 to $186.00 after Morgan Stanley downgraded the stockState Street dropped $1.41 to $6...Read More
(IDEX Online) - Botswana's President Mokgweetsi Masisi says the new De Beers deal will make his country "truly the global capital of diamonds for the first time".In an interview with Bloomberg TV he welcomed the sales and mining agreements thrashed out two weeks ago."We're very happy with the outcome. It could have been better but you know with a partnership you've always got to giv...Read More
(IDEX Online) - The Tel Aviv Museum of Art has pulled out of hosting a conference on Holocaust restitution organized by Christie's, in protest at its sale in May of almost $200m of jewelry belonging to Heidi Horten, widow of a Nazi party member.The British auction house provoked anger with its sale of over 700 items owned by the late Austrian heiress. Her first husband Helmut Horten, bui...Read More
(IDEX Online) - Police are hunting three robbers, believed to be armed, who used sledgehammers to smash display cases at a jewelry store in Charlotte, North Carolina, USA.They entered Fink's Jewelers, in Birkdale Village, at lunchtime last Tuesday (11 July) wearing hooded sweatshirts and full-face mask and ordered staff to one part of the store while they stole jewelry. Nobody was hurt in the...Read More
offers an outlook on North American equity markets as a guest on "Wolf on Bay Street" available on Saturday at 7:00 PM EDT on Corus radio (Channel 640 in Toronto) Pre-opening Comments for Friday July 14thU.S. equity index futures were higher this morning. S&P 500 futures were up 7 points at 8:30 AM EDT. JP Morgan added $4.48 to $153.25 after reporting higher than consensus second quarter...Read More
(IDEX Online) - Titan Company says revenue from its 559 jewelry stores - including Tanishq and CaratLane - was up by 21 per cent year-on-year in the three months to 30 June.Watches and wearables saw a 13 per cent increase in sales, in over 1,000 outlets."Buyer growth was higher than average ticket size growth for this period," the company said in a quarterly update.Titan, based in Bengaluru, India...Read More
(IDEX Online) - More than 230 delegates attended an inaugural lab grown symposium in Dubai to address issues facing the industry.It was, said Ahmed Bin Sulayem, (pictured) chairman of the Dubai Diamond Exchange (DDE), the first event of its kind in the world."With over $1.5bn of lab-grown diamonds traded through Dubai last year - a year-on-year increase of 126 per cent - we are witnessing first-ha...Read More
(IDEX Online) - Australian jeweler Michael Hill is expanding its range of lab growns, and expects them to account for 10 per cent of its revenue, up from six per cent currently.The company is now selling lab grown earrings, necklaces, and tennis bracelets at its 281 outlets across Australia, New Zealand and Canada. "We haven't made a big noise about lab-created diamonds until now b...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points at 8:35 AM EDT.S&P 500 futures were virtually unchanged following release of the U.S. June Producer Price Index at 8:30 AM EDT. Consensus called for an increase 0.2% versus a drop of-0.3% in May. Actual was an increase of 0.1%. Excluding food and energy, June Producer Price Index was expected to increase...Read More
(IDEX Online) - Tiffany & Co has bought an extremely rare emerald weighing over 10 carats and described as the finest ever sourced from the famed Muzo mines of Colombia.It is virtually inclusion-free, has no fissures and has a perfectly saturated green color.The New York-based jeweler did not disclose the price or provide a precise specification."We are thrilled to announce our recent acquisit...Read More
(IDEX Online) - The retail price of polished diamonds in China has remained stable over the last six months, despite a collapse in the rough market.That's according to an informal survey of salespeople at major jewelry stores in Shanghai, by Yicai Global, an English language state-owned news service.Staff at Chow Tai Fook Jewellery, Leysen Jewellery, Kimberlite Diamond and other retailers sai...Read More
(IDEX Online) - De Beers has reportedly cut the price of larger rough by as much as 20 per cent at this week's sight (cycle 6) in Gaborone, Botswana, amid increasing caution from buyers. The move follows price reductions last month and a drop in total sales of almost a third during cycle 5, down to $450m.Prices of stones over 2-cts have been reduced by 10 to 20 per cent, according to a T...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 32 points at 8:35 AM EDT.S&P 500 futures jumped 22 points following release of the U.S. June Consumer Price Index at 8:30 AM EDT Consensus was an increase of 0.3% versus a gain of 0.1% in May. Actual was an increase of 0.2%. On a year-over-year basis, June CPI was expected to increase 3.1% versus a gain of 4.0% in...Read More
(IDEX Online) - The first piece of jewlery from a collection marking the closure of the iconic Argyle mine, in Australia, has been revealed.The rose gold and platinum Argyle Lotus ring is set with 3.34 carats of Argyle pinks, 3.82 carats of white diamonds with a "hidden" 0.12 carat fancy Argyle blue on the underside.The Lotus ring is the first piece of jewelry in the Argyle Heritage Collection, pa...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points at 8:30 AM EDT.WD 40 added $7.95 to $201.75 after reporting higher than consensus fiscal third quarter earnings. Viridian Therapeutics dropped $4.56 to $19.96 after announcing a design change to its study for chronic eye disease therapy. Apple gained $0.75 to $189.36 after KeyBanc Capital raised its target pri...Read More
(IDEX Online) - The world famous FC Barcelona soccer team is to turn the grass from its Nou Camp stadium into ultra-high priced lab grown diamonds.The pitch will be ripped up during a major renovation which will increase its capacity to 105,000.The grass will be used to produce 1,957 lab growns - a nod to the year the stadium was built.Among them will be a limited edition of 57 one-carat stones, w...Read More
(IDEX Online) - A platinum ring set with a 9.70-ct fancy intense yellow diamond is among the highlights of Bonhams California Jewels auction.The emerald cut VS2 diamond (pictured) is flanked by tapered-baguette diamonds at either shoulder and has an estimate of $60,000 to $90,000.It will be offered for sale at a live auction next Tuesday (18 July) in Los Angeles.Other notable lots include a platin...Read More