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Entries in Brisbane (14)

Saturday
Oct042014

Gold Sinks Below $1,200, Platinum Hits 5-Year Low

By Rob Bates, News Director

Posted on October 3, 2014

Oct. 3 was a tough day for metal prices: Gold sank below $1,200, and platinum plummeted to a five-year low. 

Gold’s drop below the $1,200 barrier is the latest dip in a roller-coaster year for the yellow metal: It started the year over $1,200 and seemed to be approaching the $1,400 mark in March. But at press time, its spot price was $1,192 an ounce, meaning it is now down for the year.

Gold futures last fell under that benchmark in December.

Analysts attributed the sell-off in part to a spate of upbeat economic news, including reports that the unemployment rate fell 6 percent.

Platinum was trading at $1,222 an ounce at press time, its lowest level since 2009, and a $40 drop from today’s opening price. Analysts said the drop was in part caused by slowing demand in Europe.

Tuesday
Jul092013

Argyle pink diamonds get heart of stones beating

Rare pink, red and blue Argyle diamonds. 

IF diamonds are a girl's best friend, to use the well-known refrain, then a pink diamond is a soulmate - an exceedingly rare find. It was certainly the rarest of finds for global mining giant Rio Tinto in 1979 in Smoke Creek in Western Australia's Kimberley, a region of rugged yet breathtaking terrain.

Exploration crews were working their way along that creek on October 2, 1979, when one of the geologists saw a small diamond embedded in an anthill. Thus began the start of the Argyle diamond mine and a multi-billion-dollar industry.

Diamond enthusiasts marvel at the sparkle and attraction of a white gem, but the precious pink stones are truly unique and they comprise less than one-tenth of 1 per cent of Argyle's annual diamond production.

Click to read more ...

Tuesday
Jun182013

"Grading the Graders", well worth the read.... - a report by the Rapnet Team.

RAPAPORT... No two diamonds are alike and it seems neither are their grading certificates. A survey by RapNet – the Rapaport Diamond Trading Network, found significant differences between laboratories grading the same diamond. 

While there is a common language used in the grading of diamonds, there are clear inconsistencies in the use of that language, concluded Saville Stern, chief operating officer of RapNet. Stern oversaw the study and presented its findings at the fourth annual Rapaport Diamond Certification Conference in Las Vegas on June 2.  

Click to read more ...

Wednesday
Oct312012

PRICE OF ARGYLE PINK DIAMONDS CONTINUES TO RISE

The strong prices generated by the recent Rio Tinto 2012 Argyle Pink Diamonds Tender provided further evidence of the increasing value of the rare gemstones.

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Tuesday
Oct232012

Rio Tinto announces winning bids for its iconic red, pink and blue diamonds

22 October 2012

Rio Tinto's 2012 Argyle Pink Diamonds Tender, the most exclusive diamond sale in the world, has demonstrated strong global appeal and delivered an exceptional result for its iconic gems.

Bids for this year's Tender collection of 56 single pink diamonds, including two red diamonds and an additional 19 lots of blue diamonds from Rio Tinto's Argyle Diamond Mine in Western Australia, closed on October 15th. The collection was keenly contested with the final results demonstrating continued strong price appreciation.

Click to read more ...