International News
Rio Tinto Unveils Rare 158ct Yellow Diamond from Diavik Mine in Canada
One of the largest gem-quality yellow diamonds ever discovered in Canada, the 158.20-carat gem is a remarkable find as Diavik Mine nears closure.
Rio Tinto has uncovered a rare and exceptional 158.20-carat yellow diamond at its Diavik Mine in Canada, marking one of the largest gem-quality yellow diamonds ever found in the country. This stunning discovery is also among only five yellow diamonds weighing over 100 carats to be unearthed by the company at Diavik throughout its 22-year history. Notably, Diavik is primarily known for producing white diamonds, with less than 1% of its output being yellow stones.
The Diavik Mine, which is set to close next year, is also responsible for several significant yellow diamond finds, including Canada’s largest yellow diamond, a 552.74-carat gem discovered in 2018, and the 187.7-carat Diavik Foxfire found in 2015.
With the closure of the Argyle mine in Australia in 2020, Diavik is now Rio Tinto’s sole diamond asset. Patrick Coppens, General Manager of Sales and Marketing for Rio Tinto’s diamond business, expressed excitement over the unique beauty and purity of the Diavik diamonds, eagerly anticipating the future of this extraordinary find.
International News
Precious Metals Recover from Lows, Await Direction Amid Middle East Tensions AUGMONT BULLION REPORT
- Safe Heaven Dynamics – Gold and silver have rebounded from key psychological supports near Rs.1,30,000 and Rs.2,00,000, respectively, supported by oversold conditions and short-covering. However, prices remain under pressure as Middle East tensions persist, with uncertainty around negotiations and the reopening of the Strait of Hormuz keeping inflation risks elevated.
- Geopolitical Developments – While US President Donald Trump indicated a delay in potential strikes and mentioned “productive discussions,” Iran has denied any ongoing talks, and Israel continues military actions. This divergence is sustaining geopolitical uncertainty and market volatility.
- Risk off sentiment – The recent sell-off reflects a classic liquidity-driven phase, where investors liquidate profitable assets like gold and silver to meet margin calls in other asset classes. This indicates positioning-driven moves rather than a change in long-term fundamentals.
Technical Triggers
- Gold: Rebounded from $4100 (~Rs.1,30,000) to $4500 (~Rs.1,42,000); likely to consolidate before targeting $4750 (~Rs.1,48,000).
- Silver: Recovered from $61 (~Rs.2,00,000) to $71 (~Rs.2,28,000); expected to consolidate before moving towards $75 (~Rs.2,40,000)
Support and Resistance
| International Gold Support Level International Gold Resistance Level | : $4100/oz : $4750/oz |
| Domestic Gold Support Level Domestic Gold Resistance Level | : Rs 130,000/10 gm : Rs 148,000/10 gm |
| International Gold Support Level International Gold Resistance Level | : $61/oz : $75/oz |
| Domestic Gold Support Level Domestic Gold Resistance Level | : Rs 200,000/kg : Rs 240,000/kg |
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International News2 hours agoPrecious Metals Recover from Lows, Await Direction Amid Middle East Tensions AUGMONT BULLION REPORT
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