Diamond News Archives

Federal Reserve officials confirm a tapering discussion at upcoming meetings may occur, but with substantial progress unlikely to be achieved until late 2021 – the Fed will stick to their patient script – undercutting the US Dollar Index (DXY), in the view of economists at Westpac.

(IDEX Online) - A 73.11-carat fancy vivid yellow diamond will lead The Roaring Twenties 2.0 auction at Sotheby's New York next month.

The Sienna Star, a VS2-clarity, natural color, cut-cornered square step-cut stone, is set in 18 karat white gold ring with about 4.45 carats of near-colorless F-G color, VS clarity diamonds.

It is a described as one of the most important creations by London-based master jeweler Glenn Spiro, and has a $3m estimate. 

Sotheby's say it has the highest GIA color grading for any yellow diamond, and is one of the largest fancy vivid yellow diamonds ever to be auctioned.

The sale, on 9 June, is one of nine auctions being held as part of the auction house's Luxury Week, spanning the fastest growing categories of luxury items. 

 It also features designs from Cartier, Van Cleef & Arpels, Bulgari, and others which are destined, says Sotheby's, to be worn for The Roaring Twenties 2.0....

U.S. Treasury Secretary Janet Yellen said on Thursday that President Joe Biden's fiscal 2022 budget request will increase the U.S. federal debt-to-GDP ratio above its current level of about 100% over the next decade.

(IDEX Online) - Fugitive diamond trader Mehul Choksi was arrested yesterday in Dominica, three days after he disappeared from Antigua, about 120 miles away by sea.

There is media speculation that after arriving on the tiny island by boat he was intending to travel by sea to Cuba, 1,150 miles away.

He is wanted in his home country of India, where he and nephew Nirav Modi are accused of defrauding the Punjab National Bank out of $1.85bn.

In 2018, Choksi, 62, (pictured) moved from India to Antigua and and Barbuda, which offers a citizenship by investment program.

India is now expected to use diplomatic channels in an attempt to have him deported. 

But Chokis's lawyer Vijay Agarwal says his client is no longer a citizen of India and he cannot be deported there.

Antigua's prime minister Gaston Browne said Choksi had "made a monumental error by skipping the island".

He told the Antigua News Room website: "He needs to return to India where he can face the criminal charges levelled against him."

. ...