Vol. I — No. 002 · Fourth Edition
NYC --:-- ANR --:-- BOM --:-- HKG --:-- GVA --:--
Friday, July 10, 2026

Carat^Capital

The Trade Paper of the Jewelry World
Carat^Capital
Carat Capital · The trade paper of the jewelry world · Read in 120+ countries
The Wire
GOLD 4,102.30 ▲0.4% — steadies near the H2 base case after June's $4,001 testDE BEERS opens July sight in Gaborone poised to realign rough prices with the marketPHILLIPS closes a $235M spring — the biggest watch-auction season ever recordedAZURE BLUE — 31.62ct fancy blue makes $8.4M as Christie's New York sells 100%CHOW TAI FOOK books record HK$9.08B profit, up 52%, on fixed-price goldTARIFFS — US–India deal to cut Indian-cut natural diamonds to zero dutyRUSSIA orders 'synthetic' labeling on lab-grown jewelry tags from Sept 1SSEF trade alert: emeralds re-filled after lab testing — check report datesPLATINUM holds near $1,900 after January's all-time $2,923 printLONDON — Charlotte Rose elected first female president of the Diamond Bourse in 86 years
Carat Capital Price Desk● Live — 14 Jul 2026USD · Indicative
Gold / ozXAU
4,102.30
▲ +16.40 (+0.40%)
Natural 1ct RBCNAT1
5,236.00
▼ -4.00 (-0.08%)
Lab-Grown 1ctLGD1
727.00
▲ +7.00 (+0.97%)
Platinum / ozXPT
1,896.00
▼ -8.30 (-0.44%)
Silver / ozXAG
71.40
▲ +0.62 (+0.88%)
Lead Story · Diamonds Desk

De Beers blinks: the July sight and the end of the polite fiction

The miner opens its July sight in Gaborone this week prepared to do what sightholders have demanded for two years — bring official rough prices back into contact with the market they supposedly describe.

GIRDLE — $4,135/OZ CROWN PAVILION FIG. I — THE STONE, RE-CUT BY THE METAL BENEATH IT
Plate I — Engraving by the Carat Capital graphics deskCC/2026/001

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The houses that survive the next decade will be the ones that treat traceability as romance, not compliance.
Creative directors on craft & provenance
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Lab-grown didn't kill the diamond dream. It made the natural stone tell a better story — or lose.
Traders, sightholders & financiers
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My customers are 24 and buying emeralds on their phones at midnight. Meet them there, or meet nobody.
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