International News
Historic Mughal Emerald Jewels to Lead Christie’s Magnificent Jewels Auction in New York
Over 2,000 carats of rare Mughal-era emeralds and multi-gem treasures — including a 470-carat centerpiece — headline a landmark sale alongside prestigious pieces from Anne Bass and Lucille Coleman collections.
Christie’s will showcase an extraordinary array of Mughal jewels at its upcoming Magnificent Jewels auction in New York on June 17, led by a remarkable carved emerald necklace bearing over 1,150 carats of Colombian emeralds. The historic piece is inscribed with the name Ahmad Shah Durrani, founder of the Durrani Empire, and features a massive 470-carat central emerald. Dating back to 1612, this jewel is steeped in royal heritage and has been linked in historical records with other legendary gems such as the Timur Ruby and the Koh-i-Noor diamond. It carries a pre-sale estimate of up to $3 million.
Two additional Mughal masterpieces will also feature in the sale. One is a multi-gem necklace set with four Colombian emeralds totaling nearly 800 carats, expected to fetch up to $3 million. The other is a remarkable necklace strung with over 2,000 carats of spinel and natural pearls, with eight stones engraved with the names of influential rulers including Delhi Sultan Muhammad ibn Tughluq, Mughal emperors Babur, Jahangir, and Shah Jahan. That piece is estimated to sell for as much as $2 million.
These jewels will be presented alongside the personal collection of philanthropist Anne Hendricks Bass, which includes 26 pieces from esteemed design houses such as Van Cleef & Arpels, Bulgari, Cartier, and JAR. A standout from this collection is a pair of Van Cleef & Arpels diamond pendant earrings, estimated at up to $1.8 million, and a JAR sapphire, emerald, and diamond necklace, valued at up to $300,000.
Also featured in the auction is a group of nine Van Cleef & Arpels Mystery-Set jewels from the collection of philanthropist Lucille Coleman, described by Christie’s as a “significant” highlight of the sale.
With its blend of historical depth and iconic 20th-century design, the June auction promises to be one of the most compelling jewelry events of the year.
International News
Gold, Silver Slide as Inflation and Fed Outlook Dominate Geopolitical Risks AUGMONT BULLION REPORT
- Safe Heaven Dynamics – Gold and silver remain under pressure, slipping to $4800 and $75 respectively, as stronger US producer inflation and a firm dollar outweigh safe-haven demand from Middle East tensions. Elevated real yields continue to cap upside, keeping sentiment weak despite geopolitical risks.
- Geopolitical Developments – Escalation intensified after Iran struck a Qatari site hosting the world’s largest LNG facility, following attacks on its South Pars gas field. This marks a significant widening of the conflict, raising energy security concerns and inflation risks, while increasing uncertainty across global markets.
- Monetary Policy stance – The Federal Reserve held rates steady, highlighting inflation risks from the conflict and signaling a cautious stance. While one rate cut is projected this year, policy easing will depend on clear signs of inflation cooling, keeping metals sensitive to macro data.
Technical Triggers
- Gold has reached its $4850 (~ Rs.152,000) support and may consolidate near current levels.
- Silver is testing key support at $75 (~ Rs.250,000); a breakdown could extend declines toward $72–70 (~ Rs.235,000–Rs.230,000).).
Support and Resistance
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $4800/oz | $5250/oz |
| Gold | Domestic | ₹150,000/10 gm | ₹165,000/10 gm |
| Silver | International | $72/oz | $85/oz |
| Silver | Domestic | ₹235,000/kg | ₹268,000/kg |
Source:AUGMONT BULLION REPORT
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