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
Precious Metals Under Pressure Despite Near-Term Rate Hold Expectations
Precious metals experienced sharp liquidation as investors sold assets to cover cash needs during broader stock market declines.
While rising energy costs boosted oil, precious metals experienced sharp liquidation as investors sold assets to cover cash needs during broader stock market declines.
Gold: Spot gold briefly dipped below $4,000 to $3,993.96 per ounce—its lowest level since mid-July—recording a 4% weekly decline before staging a partial recovery to $4,026. In domestic retail markets in India, 24K gold edged up slightly by ₹100 to ₹1,42,580 per 10 grams following recent sharp drops.
Silver: Extended its losses to $53.50 per ounce, marking its lowest level since November 2025 due to softening industrial sentiment and a 6% drop in the prior session.
Recent U.S. consumer and producer price data showed higher-than-expected inflation, largely propelled by elevated energy costs. The rise in oil prices has reinforced expectations that the U.S. Federal Reserve will maintain a “higher-for-longer” interest rate environment.
Despite the persistent inflationary pressures, markets expect the Federal Open Market Committee (FOMC) to leave interest rates unchanged at its upcoming October 27–28 meeting.
According to a study, traders are currently pricing in less than a 10% chance of a rate hike in October, compared to an 80% probability for the December meeting. Investors are now awaiting the U.S. PCE inflation data due on October 29 for further policy guidance.
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