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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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A sales event for diamonds weighting more than 10.8 carats has been organised by Gokhran.

Gokhran, the Russian state-owned precious metals and gems repository, is to hold a special auction for diamonds weighting in excess of 10.8 carats, it has emerged.

According to Diamonds.net – citing reports from news agency Interfax – the event is to take place tomorrow (October 26th).

It is not known how many diamonds will be included in the sale, which is one of three Gokhran intends to hold this year.

At the first event, which took place in March, 6,474 carats of the precious stones changed hands, bringing in a total of $7.9 million (£5.01 million).

In 2009, the repository organised two auctions, selling 5,500 carats and raising $13.5 million.

The Rapaport Group recently held a sale of melee diamonds in New York, offering 62,400 carats of the polished stones.

However, it has delayed it certified diamond auction after suppliers asked to move the date so they would be able to provide high-quality precious stones during Diwali, with the event now scheduled to run between November 9th and 15th.

There are doubts as to whether the recent discovery of new diamond deposits in Zimbabwe will have any benefits for citizens of the country, it has been suggested.

According to the Zimbabwean, commentators have raised concerns that the government's involvement in extracting the precious metals may result in abuses of power.

Mines minister Obert Mpofu said to the Sunday Mail, a state-owned newspaper, that the administration is establishing a body to oversee the exploration of the sites in Binga, Tsholotsho and Masvingo, but there are worries that the outcome will be similar to that of Chiadzwa, where the government's takeover of a diamond mine resulted in the deaths of hundreds of illegal panners.

An unnamed individual was quoted by the news source as saying to SW Radio Africa that "rampant and systematic abuses are still occurring" in Chiadzwa, despite the Zimbabwean government saying otherwise.

The finds are expected to make Zimbabwe one of the biggest diamond producers in the world, as it is already home to a deposit of the precious stones in Manicaland. 

Diamonds mined in Sierra Leone worth nearly $750,000 have been sold by Obtala Resources.

Obtala Resources has raised nearly $750,000 through the sale of diamonds mined at its Konoma project in Sierra Leone.

The mining firm sold rough diamonds totalling 2,480 carats in size to international buyers for a total of $744,270.

Its special stones – those greater than 10.8 carats in size – changed hands for an average of $3,278 per carat and chairman of Obtala Frank Scolaro welcomed the results of the company's inaugural sale, stating it "demonstrates the high value stones from the Konoma project can realise".

"We shall continue to optimise our Sierra Leone diamond operations in order to rapidly achieve maximum value from our assets," he continued.

All of the stones purchased at the event, which was held in Sierra Leone's capital Freetown, were issued a Kimberley certificate by the country's minister of mineral resources and the worth of the gems was ascertained by the government, VL Holdings and an independent diamond valuation business.

In addition to the Sierra Leone diamond mine, subsidiaries of Obtala also own economic rights to Tanzanian projects seeking gold, copper and other precious metals.