Diamond News Archives

HTTP/2 200 date: Mon, 14 Oct 2019 16:00:05 GMT content-type: text/html; charset=UTF-8 set-cookie: __cfduid=d519a7a906d2dae97607574ca7c3d6cf41571068805; expires=Tue, 13-Oct-20 16:00:05 GMT; path=/; domain=.peakprosperity.com; HttpOnly cache-control: public, max-age=600 link: ; rel="https://api.w.org/" link: ; rel=shortlink x-pantheon-styx-hostname: styx-fe4-9b9c45564-jcn77 x-styx-req-id: aed63630-ee9b-11e9-a15d-fe922eee6103 x-served-by: cache-mdw17358-MDW, cache-yul8927-YUL x-cache: MISS, HIT x-cache-hits: 0, 1 x-timer: S1571068805.499777,VS0,VE1 vary: Accept-Encoding, Cookie, Cookie age: 0 via: 1.1 varnish cf-cache-status: DYNAMIC expect-ct: max-age=604800, report-uri="https://report-uri.cloudflare.com/cdn-cgi/beacon/expect-ct" server: cloudflare cf-ray: 525ac3a24b71ca47-YUL Did Everything Just Change? | Peak Prosperity

(IDEX Online) - Lightbox, the lab-grown diamond fashion jewelry brand owned by De Beers, will soon be available at select Bloomingdale's department stores and Reeds Jewelers locations. It's a big departure for the brand, which has only been available online or at promotional pop-up stores.

According to an article in Forbes^[1], the initial trial roll out includes Bloomingdale's 59th Street flagship store in New York City and its San Francisco location. Reeds Jewelers will debut Lighbox at some 30 of its stores, primarily those in the Southeast of the country. The brand, which starts at $200 per quarter carat, plus the cost of the setting, is already available on the jeweler's website and will also be available on Bloomingdales.com. 

The jewelry will be clearly branded in-store and online with the trial run expected to last up to six months.

Lightbox launched in September 2018. ...

Gold Softens Further on Optimism in Both Us-China Trade and Brexit - Gold Today October 11, 2019

Jim Pogoda, Senior Gold Trader, Gold Bullion International 

Overnight – remained choppy, trading between $1480 -$1504

·        Gold retained its choppy tone last night, trading in a range of $1480 - $1504. 

·        It held fairly steady between $1491 – 97 during Asian time – despite a further rise in S&P futures off of upbeat comments last evening from Trump (China talks went very well today, meeting at White House tomorrow, we had a very, very good negotiation), and prospects for getting a deal on Brexit. 

·        However, gold spiked to its $1504 high during early European time on news that an Iranian oil tanker was hit by two missiles. 

·        The news launched oil briefly to $54.85, knocked back S&P futures (2948), and pushed the US 10-year bond yield to 1.642%. 

·        However, oil quickly retreated back to $54.15 ahead of the NY open. 

·        S&P futures bounced back (+32 to 2973) over increasing optimism for a US-China trade deal, and the US 10-year bond yield climbed to 1.717%. 

·        The DX retreated, however, under pressure from a continued strong rally in the pound ($1.2425 - $1.2681, 3-month high) off of further optimism of a Brexit deal (EU’s Barnier given go –ahead to enter into detailed discussions with the UK government) and the euro ($1.1001 - $1.1060), along with some technical selling under 98.69 (up trendline from 6/25 95.84 low).

·        Gold tumbled – despite the weakness in the greenback as many longs went to...

Fri, Oct 11, 2019 - 2:51 PM

[BEIJING] China's hidden capital flight surged to a record high in the first half of this year, suggesting that residents wanting to move money abroad are using unrecorded transactions to evade tight capital controls.

That's according to the Washington-based Institute of International Finance (IIF), which said the "net errors and omissions" in China's balance of payments, widely seen as an indicator of concealed capital flight, rose to a record high of US$131 billion in the first six months of this year. That was larger than the average US$80 billion recorded during the same period in 2015 and 2016, when outflow pressures intensified, it said.

"Resident capital continued to leave the country via unrecorded transactions," said the IIF's head of China research Gene Ma in an Oct 10 note. While recorded resident outflows of US$74 billion were the smallest in 10 years, "the true extent of capital flight seems underreported", Mr Ma wrote.

Net errors and omissions is a category present in balance of payments accounting to reflect flows that can't be explained elsewhere. Discrepancies in tourism data can also be used to spot the practice of citizens using activities like property purchases or buying life insurance abroad to squirrel money offshore.

A separate Bloomberg measure estimating capital flows showed outflows were about US$226 billion in the first seven months of this year, about 19 per cent higher than in the same period in 2018.

While growth concerns will weigh on China's outlook next year, Mr Ma expects relatively balanced net flows in 2020. China's inclusion in global stock indices and its phased inclusion in...