Gold steadies as traders focus on uncertain 2025 rate path
Gold has hit successive records this year and is set to close 2024 more than 25% higher.
Actress Laura Harring wearing the Archduke Joseph.
The Archduke Joseph Diamond, a 76-carat gem considered one of the most renowned worldwide, may be sold for more than $15 million in Geneva on Nov. 13, the world’s largest auction house Christie’s said on Friday.
“The legendary Golconda mines in India produced some of the world’s most famous diamonds, including the Dresden green, the blue Hope, and the Koh-i-Noor (in the Royal Collection at the Tower of London),” Rahul Kadakia, head of jewelry for Christie’s Americas and Switzerland, told Reuters.
The colossal rock gets its name from Archduke Joseph August (1872-1962), first known owner of the gem and prince of the Hungarian line of the Hapsburg dynasty. The Archduke was a descendant of the Emperor Leopold II, son of Empress Maria Theresa who —in turn— owned the famous Florentine Diamond, considered one of the most notable and unique precious rocks in history.
In April this year, a rare nine-carat pink diamond ring belonging to philanthropist and heiress, Huguette Clark, sold for $15 million at a Christie’s auction in the U.S.
The rock, dubbed “the Clark Pink,” set a new auction record for the most valuable pink rock sold in the country.
Before the auction, the Archduke Joseph will be exhibited in New York and Hong Kong.
Image courtesy of Famous Diamonds.
