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BULLION PRICES ROCKET and will effect wedding ring prices


While generally lacking in confidence the financial markets maintain their interest and confidence in precious metals i.e bullion, driving up prices. This year we have already seen huge gains in the market prices of Platinum, Gold and perhaps the surprise star Palladium.


The DiamondGeezer.com metal buyers recommend couples, looking to secure their wedding rings, do so sooner rather than later to avoid further hikes in the speculative bullion market. Rememeber that the prices of bullion as a trading commodity are set twice a day in London & New York and new values, while not immediately passed on, are instantly reflected in the prices all jewellery manufacturers, including DiamondGeezer.com have to pay.

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BHP Billiton has posted figures showing a drop in diamond production, citing the switch to a different mine as the reason for the fall.

Diamond production by mining giant BHP Billiton fell ten per cent year-on-year in the three months to the end of September, new figures from the firm have revealed.

In its latest quarterly production report, the company said 703,000 carats of the precious stones were produced over the period.

This was also a five per cent dip when compared to statistics from the previous quarter, with the company citing "lower ore proceeded and lower average grade" as reasons for the slide.

BHP, which is based in London and Melbourne and has operations in over 25 countries worldwide, said a "higher proportion" of diamond ore was sourced from its Fox pit in Ekati, Canada during the period as a result of operations at the Panda asset – which yielded a higher grade – ceasing in the previous quarter.

It also published production statistics for a number of other natural resources and said in a statement it "remains positive on the prospects for many of its core commodities and the underlying performance of its business", in spite of the "ongoing uncertainty" in developed economies.

Growing numbers of investors are looking to purchase rare diamonds as a hedge against economic uncertainty, according to one auctioneer.

Rare diamonds are growing in popularity among investors who want to protect themselves against the volatile financial markets, it has been suggested.

Speaking to Reuters, head of the jewellery department at Christie's in New York Rahul Kadakia noted prices for diamonds and coloured precious stones have risen 20 per cent in the last year as a result.

An event being held by the auction house that will see more than 450 items of jewellery go under the hammer is expected to raise at least $40 million (£25.1 million) this week and Mr Kadakia explained "a lot of people" are choosing to invest their money in gems.

"Investors and clients who enjoy jewellery have started purchasing important diamonds and gems as a hedge against what's going on in the stock market," he remarked.

Among the items going up for sale at the event on October 20th is the Bulgari Blue, which, according to the auction house, is the "largest triangular-shaped Fancy Vivid Blue diamond ever offered at auction".

The diamond market continues to show signs of recovery following the recession, according to Rockwell Diamonds.

The international diamond market is continuing its recovery to the highs reached in 2008 prior to the economic downturn.

This is according Canadian mining firm Rockwell Diamonds, which has posted its annual results for the three and six-month periods to August 31st 2010.

Prices of rough diamonds saw "further steady increases in some categories", the firm explained, but noted there needs to be "further improvement" in the prices of polished diamonds in order to meet the prices of their uncut counterparts.

Rockwell revealed it mined 14,168 carats of diamonds in the first half of fiscal 2011, with an average price of $1,243.53 (£782.09) per carat.

Among the items to be recovered from its Holpan, Klipdam and Saxendrift in the Northern Cape Province area of South Africa during the second quarter of the 12-month period was a 136-carat clean white stone found at Holpan, while Klipdam yielded a 69-carat pinkish stone with a brown overtone.

Namakwa Diamonds, which also has operations in South Africa, recently discovered a pair of rare diamonds – one of which is orange in colour – at a mine in the north-west of the country.