Misleading Lab Grown Ads Breached Rules
May 13, 26
Two companies breached UK advertising rules by failing to disclose that the diamonds they were selling online were actually lab grown. The Natural Diamond Council (NDC) said it was a victory for consumers. The NDC referred Australia-based Novita... Read More...
6.03-ct Fancy Vivid Blue Fails to Find Buyer
May 12, 26An internally flawless, 6.03-carat fancy vivid blue diamond with a high estimate of CHF 9.6 million ($12.3 million) failed to find a buyer at Sotheby's Geneva yesterday (12 May) The cushion-modified brilliant Type IIb gem, from South Africa's Cullinan mine... Read More...
Auction Planned for Closed Ekapa Mine
May 12, 26Provisional liquidators are trying to sell the troubled Ekapa mine, in South Africa, where operations ceased after five workers died in a mud rush in February. They aim to sell core assets and mining rights via a formal auction, targeting domestic and... Read More...
Industry Fears over Modi's "Don't Buy Gold" Plea
May 12, 26India's Prime Minister Narendra Modi has called on the country's 1.4 billion people to stop buying gold for a year, as part of a broader austerity program. The jewelry industry warned the move could dent sales and threaten millions of jobs. Speaking at a... Read More...
Jeweler Accused of Stealing $40,000 from Customers
May 11, 26A jeweler in the US has been arrested on suspicion of stealing almost $40,000 from customers who asked him to appraise or sell their valuables. Ira Savoie, aged 71, is alleged to have stolen items including a Rolex and an antique gold pocket watch... Read More...
Memo by John Jeffay
May 07The price of gold is soaring. And it's not just jewelers and the public who are aware. It's also criminals. So says Scott Guginsky, executive vice president at the Jewelers' Security Alliance (JSA) and a former NYPD Det Sgt who led a team tackling... Read More...