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Carat CapitalSarine's revenue fell 6%. Its loss grew 21 times.
Sarine Technologies reported its first half of 2026 on 11 August with revenue of $14.4 million, down 6% on the year, and a net loss of $3.5 million against a loss of $166,000 in the same half of 2025. No dividend was declared. Dividing one deficit by the other gives 21.1 times, this desk's arithmetic on the company's two published figures, and the multiple is the number every summary of these results has led with. It is also the least useful number in them, because a loss that starts at $166,000 will produce a frig…
The Carat indices
Five indices this paper computes itself — the listed jewelry world rebased to 100 at the year's first trading day.
The year so far
Diamonds
Carat CapitalSarine's revenue fell 6%. Its loss grew 21 times.
Sarine Technologies took $14.4 million in the first half against a net loss of $3.5 million, where a year earlier the loss was $166,000. Revenue fell
The half-carat is priced like 1999, says Kiran Gems
Senil Lakhani, president of Kiran Gems USA, says stones from 0.30 to 0.70 carats are selling at 1990s and early-2000s prices, in the $1,000 to $5,000
Lucara's price a carat rose 24% as its prices fell
Lucara sold 58,553 carats in the second quarter against 77,167 a year earlier and took $41.0 million against $43.7 million. That is 24% fewer stones f
Gold & Metals
Carat CapitalThree sessions of silver's gain undone in one
Gold reads $4,384.10 and silver $64.52 on this paper's tape this morning. The gold-to-silver ratio widened to 67.95 from 66.59, giving back 1.36 of th
66.59: silver takes a fourth session out of gold
Gold reads $4,415.20 and silver $66.30 on this paper's tape this morning. The ratio between them has fallen on four consecutive sessions, from 68.41 t
AED 10.44 between two Dubai gold pages, and holding
Peg arithmetic on Kitco's 06:00 spot puts Dubai 24-carat gold at AED 516.31 a gram. LivePriceOfGold reads 516.26 and Goodreturns 526.75. Both pages mo
Colored Gemstones
Carat CapitalWatches
GUY SIE · CC BY-SA 2.0Turkey +6.9%, America −14.8%: where Swiss watches went
Swiss watch exports to Turkey rose 6.9% to 165.2 million francs in the first half. Shipments to the United States fell 14.8%, Germany 10.5% and China
Auctions & Estates
Carat CapitalFive times its metal: a Garrard egg makes £123,500
A 22-carat gold Cadbury 'Conundrum' egg by Garrard sold for £123,500, about $166,600, at Batemans on 1 August. That is close to six times its estimate
$13,000 for costume, £2,000 for gold: Bonhams runs Chanel in three cities
Bonhams will hold three Chanel sales in September: New York 7 to 17, Paris 14 to 24 with about 400 lots, London 21 September to 1 October. The top jew
Retail & Technology
Carat CapitalTitan's jewellery arm grew 43% and says diamond prices settled
Titan's jewellery division took Rs 18,253 crore in the June quarter, up 43% excluding bullion and digital gold. Its managing director says the natural
Signet gives Zales and Banter to a Mattel executive
Jamie Cygielman becomes president of Zales and Banter on 24 August, reporting to chief executive J.K. Symancyk. She arrives from Mattel, where she was
Kalyan builds a second brand for one Indian state
Kalyan Jewellers opens Akshaya Thanga Maligai at Panagal Park in Chennai on 21 August, a Tamil Nadu-only banner it intends to expand by franchise. The
The week in one page
By the numbers
Carat Capitalon this page.