(IDEX Online) - The World Diamond Council (WDC), established to rid the industry of conflict diamonds, has a woman president for the first time in its 23 year history.Feriel Zerouki, senior vice president of corporate affairs at De Beers Group, takes over from Edward Asscher, who has completed the second of two non-consecutive terms as WDC president.Zerouki, (pictured) born in the United Arab Emir...Read More
(IDEX Online) - Rolex is selling its watches on the US second-hand market for the first time, as demand surges.It's rolling out the Certified Pre-owned Program it launched in several European countries last December.Rolex certifies its own second-hand watches as authentic and provides a two-year guarantee, rather than the five-years offered on new purchases. It means buyers no longer hav...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points at 8:35 AM EDT.Index futures moved lower following release of April U.S. Retail Sales at 8:30 AM EDT. Consensus was an increase of 0.7% versus a drop of 0.6% in March. Actual was an increase of 0.4%. Excluding auto sales, consensus was an increase of 0.3% versus a drop of 0.4% in March. Actual was an increase...Read More
(IDEX Online) - Harry Levy, the mathematics lecturer who became a gem trader and went on to chair the London Diamond Bourse (LDB) has died, aged 83."He was a true gentleman, soft-spoken, gentle, polite and with an iron-clad moral compass," said Gaetano Cavalieri, president of CIBJO (World Jewellery Confederation). "He also was completely dedicated to the mission of creating harmonised standar...Read More
(IDEX Online) - Plans to revive the mothballed Ellendale mine - once the world's largest producer of fancy yellow diamonds - have been boosted by "excellent" valuations of bulk samples, says owner Gibb River Diamonds.An independent appraisal of diamonds from the Ellendale 9 Lights stockpile, one of four bulk samples, averaged US$1,443 per carat.The company said updated valuations across a num...Read More
(IDEX Online) - Lab growns over 10 carats are to be auctioned in what's being described as the first sale of its kind.Hundreds of stones will be offered for sale in The Size Matters online event by Virtual Diamond Boutique (VDB), the sourcing and trading app.It says it's the "first-ever auction dedicated to laboratory-grown diamonds of such rare and large sizes".Among the vendors in...Read More
(IDEX Online) - Lucara reported a drop of almost 40 per cent in its Q1 sales of diamonds from its Karowe mine, in Botswana.The Canadian miner said rough revenue fell from US$67.2m in Q1 2022 to $41.3m, but it sold more carats - up from 80,295 to 83,374, a reflection of ongoing weakness in the market."As anticipated, Q1 delivered lower revenues than in the comparative period, owing to the change in...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points at 8:35 AM EDT.Index futures weakened following release of the May Empire State Manufacturing Survey at 8:30 AM EDT. Consensus was a drop to -2.00 from +10.80 in June. Actual was a drop to-31.8. Magellan Midstream Partners advanced $8.39 to $63.80 after Oneok offered to acquire the company in a cash and share...Read More
(IDEX Online) - The second part of the controversial Heidi Horten auction raised over $42m on Friday, bringing the total so far to $198m.That surpasses the original estimate by Christie's Geneva that the total sale of 700 items, including an online sale that closes tomorrow, would raise $150m.Christie's said earlier that her gems represented the most valuable jewelry collection ever to b...Read More
(IDEX Online) - Fugitive diamantaire Mehul Choksi has won the first round of a legal battle to prove he was kidnapped against his will from his new home on Antigua and Barbuda, in the West Indies.Choksi, 64, claims India was involved in an elaborate plot to bring him back to his home country, where he is due to stand trial over the alleged $1.8bn Punjab National Bank (PNB) fraud. &nbs...Read More
(IDEX Online) - The Indian government will renew diplomatic efforts to have the Britain return the Koh-i-Noor diamond.It follows the coronation of King Charles III earlier this month. Queen Camilla pointedly had the iconic 105.6-carat oval-cut Golconda gem removed from her crown, to avoid heightening tensions."The thrust of this effort to repatriate India's artefacts comes from the personal c...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points at 8:30 AM EDT.Air Canada (AC Cdn$21.01) is expected to open higher after reporting higher than consensus first quarter revenues and earnings.Twillo dropped $0.73 to $46.75 after Mizuho downgraded the stock from Buy to Neutral. Target was reduced from $90 to $55.SNC Lavalin (SNC.TO $33.35) is expected to open...Read More
(Updates prices after copper extends fall) By Polina Devitt LONDON, May 11 (Reuters) - Prices for copper and otherbase metals fell in London on Thursday, hitting multi-monthlows, after inflation data from the top consumer China added toconcerns over the strength of the country's economic recovery. Benchmark copper on the London Metal Exchange (LME)was down 3.7% at $8,164 a tonne by 1606 GMT, afte...Read More
(IDEX Online) - Botswana's diamond industry is joining forces with the Natural Diamond Council (NDC) to promote awareness of its manufacturing activity.The country is the world's second biggest diamond producer, after Russia. The Botswana Diamond Manufacturers Association (BDMA) helps manufacturers develop their businesses.The partnership announced yesterday (10 May) aims to raise awaren...Read More
(IDEX Online) - The first auction of Heidi Horten's jewelry - a sale marred by publicity over her Nazi-era fortune - yesterday raised $156m, well above its $139m low estimate.That's despite two star items falling short. The 25.59-carat Sunrise Ruby (pictured) which the Austrian billionaire bought for $30min 2015, sold for $14.6m (low estimate was $15.7m).And the 90-carat "Briolette of In...Read More
(IDEX Online) - Sotheby's Geneva is to auction the ultimate bicycle, decorated in gold leaf and embedded with a 2.03-carat round brilliant-cut Fancy Brown-Yellow diamond at the top of its steering tube.The estimate has not been disclosed, but the opening bid in an online auction (closing 18 May) is for $67,000.Colnago, the iconic Italian racing bike firm, has produced the one-off bike to mark...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:35 AM EDT.Bank of England raised its overnight lending rate by 0.25% as expected.Index futures were unchanged following release of the U.S. April Producer Price Index at 8:30 AM EDT. Consensus was an increase 0.3% versus a decline of 0.5% in March. Actual was an increase of 0.2% . On a year-over-year basis,...Read More
(IDEX Online) - Sales of watches and jewelry, together with clocks and valuable gifts, surged in Hong Kong during March, according to the latest government figures. Borders were re-opened early in February, the facemask requirement was dropped on 1 March, and Hong Kong launched ad campaigns to lure back tourists and businesses after dropping its zero-tolerance COVID-19 rules. Total revenue for the...Read More
(IDEX Online) - The index that tracks all fancy color diamond prices rose by 1.3 per cent in the first quarter of 2023, with the biggest increases among yellows.The New York-based Fancy Color Research Foundation (FCRF) said white diamond prices fell by 2.8 per cent during the same period.Yellow diamonds, across all sizes and intensities, showed the biggest rise, at 2.1 per cent. Pinks were up 1.1...Read More
(IDEX Online) - Sarine has completed its merger with the GCAL grading lab, the company said today.The Israel-based diamond tech company owns 70 per cent of shares in the new entity, GCAL (Gem Certification & Assurance Lab) USA LLC. Sarine said the merger, first announced in January would create a "robust synergy".Financial details of the deal have not been disclosed.The new joint com...Read More