Sotheby’s will auction the diamond, which it says is “arguably the most significant pink diamond to ever appear at auction,” in June.
US Demand for Gold Jewelry Inches Up Again
The increase in demand was slight, however, at 1 percent and was aided by sales of gold jewelry for Mother’s Day.
London--Gold jewelry demand lagged in many markets in the second quarter due to rising prices but continued to increase in the United States, albeit incrementally.
In its latest quarterly report released Thursday, the World Gold Council said Mother’s Day helped boost U.S. gold jewelry demand 1 percent in volume terms, to 25.9 tons. It was the market’s 10th consecutive quarter of year-over-year growth.
Demand for the first half of the year totaled 48.6 tons, the market’s strongest first half since 2009.
“Consistent, if moderate, economic growth and improving employment levels are supporting demand, although enthusiasm in the sector can be expected to wane over the coming months as the elections draw nearer,” the WGC said.
Globally, demand for gold jewelry fell 14 percent in volume terms in the second quarter and is down 17 percent year-to-date due to the metal’s rising price, the WGC said.
After increasing 17 percent in the first quarter, the price of gold rose again in Q2. For the first half of the year, the price of gold is up 25 percent year-over-year, the strongest first-half price gain for the yellow metal since 1980.
Kitco.com data shows that gold started out the year with an average price of $1,097.37. By June, it had risen to $1,324.55 and is at $1,363.75 for August.
The increase in gold prices also has led to a rise in recycling of gold, with the supply of recycled gold up 23 percent in volume terms in the second quarter, according to the WGC. In the first half of the year, it is up 10 percent.
Investment demand for gold also is up, more than doubling in Q2.
It was fueled by low and, in some countries, negative interest rates; the higher gold price; and economic and political uncertainty, including the Brexit vote in the United Kingdom and the highly emotional presidential election in the U.S.
The Swiss watchmaker introduced 17 new models at Watches & Wonders Geneva.
At Watches & Wonders, the Swiss brand unveiled a follow-up to last year’s Tonda PF GMT Rattrapante.
Distinguishing natural diamonds from laboratory-grown stones – now more available than ever – has been difficult for jewelers. Until now.
The “rêve” collection’s engagement rings and wedding bands are geared toward “sustainability minded customers.”
A new word appears on the dial each day of the week.
Bensons Jewelers closed for good Feb. 24, impacted in part by the decline in foot traffic downtown since the onset of the pandemic.
De Beers Institute of Diamonds provides the very best in diamond verification, education and diamond services.
Kolja Kiofsky has been with the crystal and jewelry company since 2010.
The Kruse GWS Auctions sale will include the replica “Taj Mahal” necklace Elizabeth Taylor made with Avon as well as a costume piece Marilyn Monroe wore.
Massimo Basei is moving up, while Chief Commercial Officer Martino Pessina is stepping down.
AGTA GemFair and the Denver Gem & Mineral Show also will have a presence on the show floor.
Sold by Christie’s Hong Kong, this masterwork of complications now holds the record for most expensive watch ever auctioned online.
The watch company expects first-quarter sales to fall as much as 15 percent due to inflation and tough comps.
Adam O’Grady, general manager of the Lightbox Lab, has taken on the new role and will report directly to Lightbox CEO Antoine Borde.
The watch marketplace gathered data from 1.3 million collectors, highlighting the most popular timepieces and exploring value appreciation.
Burgundy has opted not to exercise its option to buy the mining claims Gibb River Diamonds currently owns.
Patented and specialty cuts now can receive an 8X Proprietary Certificate, which can be customized to include a company’s brand and logo.
The organization said it will recognize those who exemplify the idea that doing good is good business.
Kendall Jenner once again is fronting the French brand’s campaign, joined by model and dancer Alton Mason.
The CEOs of Signet, Helzberg, and GIA spoke on a water conservation panel, and had lakes named in their companies’ honor.
Sales of the sleek sterling silver and diamond design will go to nonprofit organization charity: water.
Expected to earn up to $4.5 million, the “Jarretière” bracelet is the star of Christie’s “The Magnificent Jewels of Anne Eisenhower” sale.
With jewelry sales coming down from their pandemic highs, retailers need to do all they can to retain existing customers, Peter Smith says.
Jewelry historians, authors, and experts will explore the works of Tiffany & Co., Oscar Heyman, Verdura, and more.
Johnson joined the retailer in 1987, establishing its first human resources department.
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