International News
Christie’s Paris Auction Rakes in over $19M
Christie’s Paris Jewellery Auction Hits $19.6M, Van Cleef & Arpels Ruby Ring Tops Sales
Christie’s recent Joaillerie Paris auction held on June 27 saw stunning results, with total sales soaring to EUR 16.7 million (USD 19.6 million), significantly surpassing expectations. Leading the auction was a remarkable Van Cleef & Arpels ruby ring, which sold for EUR 2.4 million (USD 2.8 million)—nearly five times its high estimate of EUR 500,000. The ring features a 6.27-carat Burmese ruby, flanked by two half-moon diamonds.
The sale, conducted online, showcased a broad selection of fine jewellery from renowned houses including Boucheron, Chaumet, and Cartier. Notably, nine of the top ten lots fetched prices well above their estimates, reflecting strong global demand for high-end, rare gems.
Highlights from the top 10 lots include:
- A 9.67-carat fancy-vivid-orangey-yellow diamond ring, VS1 clarity, sold for EUR 2.1 million (USD 2.5 million)—over six times its high estimate of EUR 350,000.
- A Chaumet necklace with 191 natural pearls and diamond clasp realized EUR 1.6 million (USD 1.8 million), beating its EUR 600,000 estimate.
- A 7.76-carat Kashmir sapphire ring brought in EUR 869,400 (USD 1 million), more than doubling its expected price.
- A natural pearl necklace achieved EUR 504,000 (USD 590,661), soaring past its EUR 30,000 estimate—more than 16 times the presale prediction.
- Boucheron earrings with yellow diamonds and white diamonds fetched EUR 441,000 (USD 516,828), within expected range.
- Another pair of Boucheron earrings with Colombian emeralds and diamonds sold for EUR 365,400 (USD 428,229), exceeding their EUR 60,000 estimate.
- A Colombian emerald ring from Boucheron also fetched EUR 365,400 (USD 428,229), far surpassing the expected high of EUR 60,000.
- A Boucheron ruby and diamond necklace and earring set achieved EUR 327,600 (USD 383,929), exceeding its EUR 200,000 estimate.
A 13.47-carat Ceylon sapphire ring closed the top 10, selling for EUR 327,600 (USD 383,929)—well above its EUR 100,000 estimate.
The impressive results reaffirm Christie’s stronghold in the high-jewellery auction market and underscore growing global enthusiasm for investment-grade gemstones and heritage designs.
International News
Hopes for New Government data lifts precious metals prices AUGMONT BULLION REPORT
- Gold and Silver continued to rise, reaching a close to three-week high, supported by indications that the U.S. government shutdown was coming to an end and rising anticipation of another December interest rate cut by the U.S. Federal Reserve.
- Late on Monday, the U.S. Senate ended the longest shutdown with a compromise that would return federal funds to the United States. It would include three full-year appropriations measures and would finance the government until January 30 if the Senate passes the bill. It would then need to be approved by the House of Representatives and sent to President Donald Trump, a process that might take several days.
- Amid concerns about the economic consequences of the longest-ever U.S. government shutdown, consumer sentiment in the United States declined to a 3-1/2-year low in early November.
Technical Triggers
- Gold prices have achieved the target of $4150 (~Rs 125,000). Prices are expected to consolidate here for a while, before moving higher.
- Silver prices have achieved the target of $50.80 (~Rs 155,000). Prices are expected to consolidate here for a while, before moving higher.
Support and Resistance
| Category | Support Level | Resistance Level |
|---|---|---|
| International Gold | $4000/oz | $4200/oz |
| Indian Gold | ₹122,000/10 gm | ₹126,000/10 gm |
| International Silver | $48/oz | $51/oz |
| Indian Silver | ₹149,000/kg | ₹156,000/kg |
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