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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.


"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.  

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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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Scientists find diamond planet

This artist's rendition released by Yale University shows the interior of 55 Cancri e, located 40 light years from Earth revolving around a star in the Cancer constellation. Source: Supplied

TWINKLING stars are not the only diamonds in the sky. Scientists have reported the existence of a "diamond planet" twice the size of Earth, and eight times its mass, zooming around a nearby star.

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Japan Pearls: Gems of lustrous classic beauty

Talking about Japan Pearls, many people will think of akoya pearls, which are produced in the cool waters of Japan. Japanese akoya pearls are known for their roundness and high lustre, as their nacre crystals are fine and compact, reflecting maximum light. A symbol of classic beauty, a necklace with Japanese akoya pearls in pinkish white colour is regarded as the best match for wedding gown.

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