Articles and News

GIA Suspends Diamond Sealing Services and Duplicate Reports

Carlsbad, CA—Effective immediately, GIA will suspend diamond sealing services and the issuance of duplicate reports at all locations. The Institute is taking this action after receiving a sealed diamond for verification that did not match the data label in the sealing packet. GIA, with the assistance of an outside corporate investigation firm, is examining the circumstances surrounding the submission to determine the source of the sealing packet. 

Clients with concerns about a GIA-sealed diamond may submit the unopened sealing packet to GIA for examination. GIA will verify that the diamond matches the report information and return it in a sealing packet at no charge. 

If a GIA report is lost, stolen or damaged, clients may obtain report information through GIA’s online Report Check service or by requesting a data document. 

Gold Dips Lower On Republican Gains

Merrick, NY—Republican gains in mid-term elections sent gold trading lower, as the U.S. dollar rose to a multi-year high, according to a report on Kitco.com. Spot gold was trading at $1,136 the ounce at press time. Investors believe a Republican-controlled Congress will lead to less regulation, says Kitco, potentially spurring economic growth and job creation and making investment in U.S. stocks more appealing. That in turn weakens gold’s position as a safe haven investment, driving prices lower.

Silver and platinum also dropped this week; prices for those at press time were $15.64 an ounce for silver and $1,209 an ounce for platinum.

200+ Buyers Slated To Attend Israel Diamond Week In New York

New York, NY—The upbeat reports about the U.S. economy has helped drive interest in diamond buying, according to Israel Diamond Exchange president Shmuel Schnitzer, citing more than 200 buyers who have registered to attend the Israel Diamond Week at the New York Diamond Dealers Club, November 10-13. Visitors to the event can win a free flight and hotel stay for February's Israel Diamond Week in Ramat Gan.

"The surging buyers' interest a great sign", said Israel Diamond Exchange President Shmuel Schnitzer. He added, "The latest, upbeat reports about the USA's continued economic growth and the uplift in consumer confidence again offers proof that the US consumer market is, and remains, the anchor market for top-quality diamonds."

Buyers will find more than 100 Israeli and American diamond traders displaying a large choice of polished diamonds at the event.