Gold prices rise to their highest level since mid-June, +0.6% to $1,291.40/oz., as Apple’s bearish revenue outlook exacerbates concerns about a slowing economy and sparks demand for safe-haven bullion.
“Gold is overbought on most measures and needs to consolidate but with the speculative long still building, the market will be looking for $1,300 sooner than expected,” says Saxo Bank analyst Ole Hansen. “If the fourth quarter theme of lower dollar, stocks and yields carries on, gold is likely to break higher and set its sight on the previous high around $1,380.”
“Recent market volatility has confirmed that gold remains a safe-haven asset and the yellow metal helps to reduce volatility in a portfolio, “Gold prices have behaved as you would expect during the recent period of uncertainty.”
Christie’s puts under the hammer next week the largest fancy vivid pink diamond that the famed auction house has ever sold, expecting to fetch $30 million to $50 million for the nearly 19-carat, rectangular-cut gemstone.
The “Pink Legacy” will be the standout offering at Christie’s fall jewelry auction in Geneva on Tuesday.
The stone once belonged to the Oppenheimer diamond family, and Christie’s says it qualifies as a Type IIa diamond — the most chemically pure stones with little if any nitrogen. It says fancy vivid pink diamonds over 10 carats are “virtually unheard of” in salesrooms.
Christie’s sale kicks off two days of jewelry auctions in Geneva. On Wednesday, Sotheby’s will auction jewelry once owned by French Queen Marie Antoinette that hasn’t been seen in public for 200 years.
At NYCWD we design, by hand, this ring design in every quality and size GIA certified ideal cut diamond. Contact us at KS@NYCWD.com for your dream ring and become the Princess of your castle!
A unique, personal jeweler who works nationwide, Keith Saxe is GIA and FIT trained and has been a trusted high end diamond jewelry specialist for 30 years. He is the founder and president of NYC Wholesale Diamonds located at 47 West 47th Street Suite 3A in the New York City Diamond District. His website is www.NYCWD.com and he authors a blog at www.NYCDiamondBlog.com. Keith has recently been named to The Diamond Council of America, is a member of the Jewelers Board of Trade, and Jewelers of America. He offers GIA Certified Ideal Cut Diamonds, and state of the art fine jewelry designs at low wholesale prices. Keith has been named the N.Y. Diamond District’s Favorite Jeweler by the N.Y. Post’s Savvy Shopper column, had his diamond education articles published, been recommended in the New York Times, national gift reporter Robyn Spizman’s ‘Perfect Present Guide’ and ‘The GIFTionary’, as well as having his Diamond Halo Engagement Ring design featured on ‘The Knot.’
Our latest Yelp review just came in from Deb in Austin, TX. Thank you, Deb, for all of your kind words!
“Buying a diamond online, that you don’t see, can be scary. My dad (a clothier for 45 years) always said, “if you don’t know your merchandise, know your merchant”. This applies to Keith 100%.I spoke to a lot of online, diamond store reps, in my search. My best advice is: Call Keith first!!”
NYCWD and Jewelers Mutual Insurance work closely to insure that you are covered for the unexpected. Did you know that here at NYCWD we can get you an instant quote and in most cases have your new piece of jewelry covered by the time you walk out the door? We will always care for you beyond just the creation of your custom ring and other fine jewelry. Here are some very useful tips from Jewelers Mutual Insurance Company for the safe keeping and avoiding loss of your jewelry.
1. Dirt buildup may hasten the wear of your jewelry. Visit your jeweler at least once a year to have your fine jewelry professionally cleaned and inspected for worn or cracked prongs, faulty clasp, or other potential problems.
2. Avoid heavy blows to your diamond. Diamonds can chip if struck at the right angle
3. Salt water and jewelry don’t mix. Ocean water can damage some stones and metals.
4. Keep jewelry in unlikely places. Jewelry boxes are an obvious place for thieves to look
5. Exposure to chemicals can damage and discolor precious metals-like gold, silver and platinum-and may harm colored gems. Remove jewelry before going into chlorinated water, or using household cleaners.
6. When traveling, keep valuable jewelry at home or store it in the hotel safe, not your room safe.
7. Remove jewelry before swimming. Fingers constrict in water, making rings more likely to fall off.
8. Don’t place or store your jewelry near vents, grates, sinks or drains
9. Pearls are easily damaged by an array of personal products like cosmetics and lotions.
10. Most burglaries happen in broad daylight. Always keep doors and windows locked during the day.
11. If you bump or snag your jewelry, have it inspected for potential damage that may be unnoticeable to you
12. Always take time to place jewelry in a secure place, not a pocket, on a counter, or in a public area.
13. When not wearing your jewelry, place each item in a separate, soft, compact container. If cluttered together, jewelry can become scratched-even diamonds.
14. One of the best ways to keep valuable or extensive jewelry collections secure is to store them in a burglary and fire resistant safe.