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Pop singer Katy Perry has been seen sporting a diamond bracelet at a Grammy Awards event, complementing her metallic outfit.

Katy Perry has been seen at a red carpet event wearing a diamond bracelet as part of her golden look for the evening.

The pop singer's shimmering outfit for the 2010 Grammy Award Nominations Concert Live at Club Nokia earlier this week included the precious stone-decorated jewel that also featured different types of quartz, as well as a pair of killer pumps and make-up to match her metallic cocktail dress with black beading.

She later changed into a silver outfit for her performance of California Gurls.

Perry, who recently married British comedian Russell Brand at an exotic Indian wedding ceremony, is currently promoting her first fragrance, Purr.

Actress Lindsay Lohan was recently snapped on a day out of rehab shopping with friends for diamond jewellery.

The Mean Girls and Parent Trap star was seen trying on bracelets and a ring before being photographed at a coffee shop with friends.

She was admitted to the Betty Ford Centre in Palm Springs in October this year after she failed a drug test. 

Indian diamond necklace is set to sparkle at Hong Kong auction.

A diamond necklace worth 18-crore rupees (£2.4 million) will be the star attraction at the first Indian collection set for auction in Hong Kong later this month.

According to New Delhi Television, the jewel, which has been valued using the Indian crore – equivalent to ten million rupees – will go under the hammer at Christie's on November 29th.

Boasting a 12.29-carat Golconda diamond as well as rare Argyle pink gemstones, the masterpiece weighs just 50 grams thanks to artful design.

The eye-catching precious stone and the smaller Argyles, mined in Australia, have been set in as little metal as possible to give the impression that the wearer is only sporting the gems.

Described by the publication as "one-of-its-kind", the item took 1,300 experts more than a year to craft.

British jeweller Laurence Graff recently took home the world's most expensive diamond, bought at auction for £29 million.

The investor, who successfully bid for the 24.78-carat 'fancy intense pink' gem, has named it the Graff Pink.

Indian diamond traders are gearing up to raise their prices next year as demand for the jewels increases.

Shoppers looking to buy a diamond ring may need to speed up their search, as prices of the precious stone is set to climb from March 2011.

According to the India Times, the country's diamond industry – which produces diamond rings and diamond pendants – is due to remain steady until spring next year, when demand is expected to push the trade of cut and polished gems higher.

Managing director of Forever Jewellery Jai Begani said: "Prices of polished diamonds have increased by almost 15 per cent in the last three months and it is not easy for us to buy at such high rates."

The 80,000-crore Indian industry (£11 billion) is responsible for cutting and polishing nine in 11 of the world's jewels and is currently making a loss of six or seven per cent.

Earlier this month, a rough diamond mined in Lesotho, southern Africa, was valued at almost £7 million.

The Hope Diamond is being exhibited in New York after being refitted with a chain of precious stones.

The Hope Diamond is being displayed in New York with its new adornment of a chain of gems.

Complete with a new setting entitled Embracing Hope, the precious stone is exhibited to the public at the city's National Museum of Natural History.

The jewel's new chain is made up of 340 individual baguette diamonds and was crafted as part of the anniversary of the donation of the Hope to the Smithsonian Institution by renowned jeweller Harry Winston, as well as the centenary of the museum.

Viewed by some seven million people annually, the rare blue stone will be showcased with its new setting for one years before being refitted into its original encasement.

A jewel sold by Harry Winston 60 years ago has recently changed hands at auction, with British investor Laurence Graff making a winning offer of £29 million for the rare 'fancy intense pink' diamond, establishing its title as the most expensive ever to have been bid on.