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Alrosa expects to finalize a sale of rough to Gokhran in the next two months, aiming to reduce its stockpiles while ensuring the diamond industry doesn’t receive a flood of goods. Gokhran — Russia’s state gem and precious-metal depository — would store the diamonds until the market stabilizes, Alrosa deputy CEO Evgeny Agureev said Monday. The parties are currently negotiating the sale terms. “It will be very important for our industry, because [it] will also provide the confidence to [the] midstream that [excesses of diamond stocks will be] limited,” the executive told Rapaport News. “The government will not try to sell these goods in [the] short term.”
One thing the most recent recession has taught us is that while stocks and bonds can be the door that leads to one’s financial security, it can also be the door that suddenly slams shut, locking all finances away for good. The instability of the market has lead investors to search elsewhere for wise and worthwhile opportunities. Precious metals and stones such as gold and colored diamonds are two of the hottest options available for potential investors. Both of these commodities have proven successful and safe as investments over the past forty years. Here is a look at why these items have done so well despite the poor economy and speculations regarding what the future may have in store for them in terms of their value.
Gold’s historic rally continued this week, taking the metal into new record-setting territory. It topped US$2,070 per ounce on Thursday (August 6), pulling back overnight as the US dollar gained. The greenback strengthened from a two year low due to heightened purchases amid growing animosity between Washington and Beijing. Despite the renewed momentum, investors continue to choose safe haven gold as COVID-19 cases increase globally.