International News
Gemfields Generates $4.8 Million from Mini-Auction of Higher-Quality Emeralds
Mini-auction of unsold emeralds from November 2024 shows a promising rise in demand and prices, with 77% of lots sold.
Gemfields has reported strong results from its mini-auction held from February 19 to 21, 2025, featuring higher-quality emeralds that had remained unsold during its November 2024 auction. The event raised $4.8 million in revenue, signaling a notable recovery in demand and pricing within the emerald market.
Auction Performance:
- Total revenue: $4.8 million
- Lots sold: 10 out of 13 (77%)
- Carats sold: 45,864 out of 59,192 (77%)
- Average price per carat: $105.49
Adrian Banks, Managing Director of Product & Sales at Gemfields, highlighted that the auction offered a valuable opportunity to assess current market trends. “This auction exclusively featured unsold lots from Kagem’s November 2024 higher-quality emerald auction. With the same schedules in place, we could directly compare demand and pricing, and it was encouraging to see a notable increase in bids. Despite a subdued market sentiment, the rise in demand and pricing is a positive sign for the sector,” said Banks.
The emeralds sold were mined at the Kagem mine in Zambia, where Gemfields holds a 75% stake, while the Industrial Development Corporation of Zambia owns the remaining 25%. Proceeds from the auction will be fully repatriated to Kagem, with royalties paid to the Government of Zambia based on the final sales prices.
With positive market signs emerging, Gemfields remains optimistic about the upcoming trade shows in Bangkok and Hong Kong, anticipating further recovery in the emerald market.
International News
US Midterm Elections: Gold, Silver Prices Surge As Democrats Take Control Of Congress
Democratic Win In Congress Creates Financial Support For Gold Because It Puts Downward Pressure On The U.S. Dollar and Interest Rates
​Gold and silver prices jumped on Wednesday as election results pointed to major victories for the Democratic Party in the U.S. midterm elections.
​This continues a strong trend from 2025, a year in which gold prices rose by 66% and silver prices surged by 135%.
​Gold: Rose 3.4% to reach $4,073 per ounce.
​Silver: Rose 5.1% to reach $52.28 per ounce.
​The main driver was the outcome of the U.S. midterm elections. As votes were counted, projections showed that Democrats won control of the House of Representatives and took over several state governor positions.
​Here is how other major financial markets reacted to the news:
​U.S. Stocks: Rose as political uncertainty decreased.
​U.S. Dollar: Fell by about 0.3%.
​Treasury Yields (Interest Rates): Moved lower.
​Oil Prices: Went down.
Democratic win in Congress creates financial support for gold because it puts downward pressure on the U.S. dollar and interest rates.
A divided government often leads to political arguments over government budgets, creating economic uncertainty. At the same time, global issues like the war involving Iran and a weaker U.S. dollar are competing against the Federal Reserve’s effort to raise interest rates.
​In short, less government spending usually means lower long-term interest rates and a weaker dollar, which makes precious metals like gold and silver more attractive to investors.
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