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
UAE retail gold prices dropped by Dh10 per gram within a single day
Prices dropped by Dh10 per gram in a single day, offering a strategic buying window for consumers
After a month of sustained price surges, the UAE retail gold market witnessed a significant correction on Monday morning. Prices dropped by Dh10 per gram within a single day, offering a strategic buying window for consumers and jewelry shoppers who had been sidelined by recent record-breaking highs.
Current Market Dynamics
The sudden price volatility is attributed to two primary global drivers:
- Strengthening US Dollar: A resurgent dollar has dampened global demand for gold. Investors are currently favoring cash and dollar-denominated assets as preferred safe havens.
- Geopolitical Turmoil: The escalating conflict involving Israel and Iran—marked by the recent leadership transition in Iran and strikes on regional oil infrastructure—has caused sharp fluctuations in commodity and metal markets.
Impact on Dubai Retail
As a primary global hub for bullion trading, Dubai’s retail rates reacted instantly to these international shifts. Market analysts describe this Dh10 dip as a “brief window of relief” for resident shoppers and those purchasing for the upcoming wedding season.
Key Indicators at a Glance
| Metric | Detail |
| Price Movement | -Dh10 per gram (24-hour change) |
| Market Sentiment | High volatility; cautious optimism for buyers |
| Primary Pressure | Stronger USD & Middle East geopolitical tensions |
UAE retail gold prices dropped by Dh10 per gram within a single day
GIA icon Tom Moses to retire after 50-year legacy
Alrosa reports 88% jump in its FY2025 profits on cost cutting, gold diversification
UAE retail gold prices dropped by Dh10 per gram within a single day
MCX gold rate falls below Rs.1.61 lakh, silver slips 1% on strong dollar
From Pune’s Tech Corridors to Punjab’s Fashion Capital – Gargi by PNGS Marks a Landmark Double Debut
-
International News10 hours agoUAE retail gold prices dropped by Dh10 per gram within a single day
-
National News14 hours agoMCX gold rate falls below Rs.1.61 lakh, silver slips 1% on strong dollar
-
National News16 hours agoFrom Pune’s Tech Corridors to Punjab’s Fashion Capital – Gargi by PNGS Marks a Landmark Double Debut
-
DiamondBuzz11 hours agoGIA icon Tom Moses to retire after 50-year legacy
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.