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
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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