← The paper The Folio · Issue I / 18
Carat Capital
Issue I
The
Folio
21 Sep – 27 Sep 2026 · the week, bound
Egypt's gold exports fall 44% with UAE shipments down 65%
India's polished carat fetches $671.39, its grown carat $66.51
Diamond Workers' Union Gujarat asks GJEPC for a wage survey
The trade paper of the jewelry world · caratcapital.org · plate: Carat Capital
The Folio · Issue I

In this issue

03The week's leadTrade data
05The tapethe Carat indices
07Diamonds9 filed
08Gold & Metals9 filed
09Colored Gemstones2 filed
10Watches2 filed
11Auctions & Estates2 filed
12Retail & Technology8 filed
13The wire, distilledthe week in one page
14By the numbersthe week's marks
Bound weekly from the daily editions of Carat Capital. Every claim in these pages was priced, sourced, or cut before it ran. This issue closes with Vol. I - No. 074.
The Folio01
A word from the house
Six desks read the trade press in nine languages
so you can read one page.
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The house02
Carat Capital
Trade data

Egypt's gold exports fall 44% with UAE shipments down 65%

January to July shipments reached about $2.4bn against $4.3bn a year earlier. The Federation of Egyptian Industries blames domestic demand and war-disrupted air

One corridor carried the fall. Egypt's gold and gold jewellery exports fell 44% to about $2.4bn in the first seven months of 2026, against about $4.3bn in the same seven months of 2025.…

Carat Capital · 2 min · read the story in full →
The lead04
The tape

The Carat indices

Five indices this paper computes itself — the listed jewelry world rebased to 100 at the year's first trading day.

70105140175210FEBMARAPRMAYJUNJULAUGSEPCC-P 193.5CC-W 166.5CC20 133.1CC-C 107.8CC-M 81.5
The tape05
Marked to market · 2026-09-25

The year so far

CC20The Jewelry Twenty133.1+33.1%
CC-MThe Maisons81.5-18.4%
CC-CThe Counter107.8+7.8%
CC-PThe Pit193.4+93.5%
CC-WThe Movement166.5+66.5%
-33.3 ptsthe metal gap — gold against the makers, YTD
Best name of the year: Gem Diamonds +266.4%. Hardest fall: LVMH -38.2%. Breadth: 35% of the Twenty above their 50-day mean. Full charts, spreads and method at the Index Desk.
The tape06
D—01 · the stone that runs on trust

Diamonds

Carat Capital

India's polished carat fetches $671.39, its grown carat $66.51

GJEPC's April-to-August statement puts natural polished exports 7.38% lower in value on 6.75% more carats. Grown polished shipped 80.24 lakh carats ag

Diamond Workers' Union Gujarat asks GJEPC for a wage survey

A letter dated 24 September asks the council and the Commerce Ministry to survey piece rates across Gujarat. Two Gujarati reports add a union count of

Hancocks and Grima set 8.19 carats of French cuts

The five-piece Grima for Hancocks series debuted at the St James's Street townhouse after three years' work. All prices are on request, and the larges

9 stories filed this week · open the desk →
Diamonds07
D—02 · the metal beneath every margin

Gold & Metals

Carat Capital

Egypt's gold exports fall 44% with UAE shipments down 65%

January to July shipments reached about $2.4bn against $4.3bn a year earlier. The Federation of Egyptian Industries blames domestic demand and war-dis

Silver fixes 2.26% higher as gold's fix slips 0.13%

LBMA published Friday's fixes for all four metals on 25 September. Platinum rose 0.87% and palladium fell 1.02%, while Kitco's screen closed higher on

Gold rises $42.10 to $4,296.60 after Thursday's four-metal fall

Silver gained 1.45% and platinum 0.92% on the Kitco bid at 06:07 ET, against Thursday's marks. London's newest fixes, all dated 24 September, still po

9 stories filed this week · open the desk →
Gold & Metals08
D—03 · supply lines drawn in emerald, ruby and sapphire

Colored Gemstones

Carat Capital

AGTA takes 12.5% gemstone tariff to Bangkok trade talks

Thai finished jewellery entering the United States carries combined duties of 17.5% to 19.5%, the association says. It met Thailand's vice minister fo

Thailand's gold exports fall 59.22% in July to US$411.04m

Gem and jewellery exports excluding gold slipped 6.36% to US$737.93m, the first monthly fall after four straight gains. Seven-month exports excluding

2 stories filed this week · open the desk →
Colored Gemstones09
D—04 · haute horlogerie, priced by the second

Watches

GUY SIE · CC BY-SA 2.0

Richard Mille takes GB1 timekeeping for the 38th America's Cup

The British challenger races the second preliminary regatta at Naples from 24 to 27 September, and will launch a reconfigured AC75 by the end of 2026.

Sotheby's sells a Cartier Cheich for HK$26.52m in Hong Kong

The one-off white-gold prize watch carried a HK$8.0m to HK$40m estimate. Two trade accounts convert the same Hong Kong dollar result differently, at U

2 stories filed this week · open the desk →
Watches10
D—05 · where the trade marks itself to market

Auctions & Estates

Carat Capital

Sotheby's Hong Kong jewellery sale makes HK$58.8m, 294 lots offered

A 44.90-carat Ceylon sapphire pendant led at HK$1,800,000, 2.57 times its HK$700,000 high estimate. The house's own page carries no sale total; that f

Elmwood's puts a £2m high estimate on an 8.03-carat blue

The pear-shaped Fancy Light Blue comes from a Glasgow collector and carries a £1.5m low estimate. The house says only two blue diamonds above eight ca

2 stories filed this week · open the desk →
Auctions & Estates11
D—06 · the counter, rebuilt for the next generation

Retail & Technology

Carat Capital

Cheng Kar Shun buys 5m Chow Tai Fook shares for HK$54.82m

Disclosure of Interests filings at the Hong Kong exchange record purchases on 18, 21, 22, 23 and 24 September. They ran through Dragon Noble Group, a

Jammers silence the alarm in a $1m Glendale burglary

Cellular jamming is the fastest-growing tactic in thefts at US retail jewelers, Jewelers Mutual told JCK on 25 September. The Jewelers' Security Allia

Brilliant Earth prices 17 Elizabeth Taylor pieces from $995

The estate-authorized collection went on sale on 24 September online and in select showrooms. A lab-grown tennis necklace of 17.66 cts. t.w. tops the

8 stories filed this week · open the desk →
Retail & Technology12
The week's marks

By the numbers

$3,051Diamonds — 1ct RBC · natural, trade, 21 Sep
$4,284.20Gold & Metals — Gold/oz · 27 Sep 2026
+12%Colored Gemstones — Fine sapphire, YoY
CHF 26BWatches — Swiss exports, annualized
$1.1BAuctions & Estates — Annual jewelry hammer, est.
$475Retail & Technology — Lab-grown 1ct, wholesale mid, 21 Sep
Each figure carries its desk's sourcing on the site — nothing here is estimated, and what could not be verified was carried “unch.”
The marks14
Carat Capital
Plate II · the colour the week went without
The open seat
Your maison,
on this page.
The Folio binds the week for the people who price it. One plate an issue is kept for a house the desk would stand behind.
The open seat16
Clarity, daily.
Carat Capital · est. MMXXVI · free to read · caratcapital.org