Gold and silver experienced hard pullbacks in 4th quarter 2016. This was in no doubt due in part to several factors:
President Trumps’ election
Fear of promised higher interest rates
A strengthening dollar
However, while it felt like a stunning decline, the correction wasn’t enough to wipe out a yearly gain of 8% for gold and 16% for silver. Platinum was the laggard finishing essentially unchanged for the year.
So where is demand? According to the World Gold Council, 2016 saw a 7 year low for gold jewelry demand. India’s shocking surprise decision to demonetize had a huge impact, initially creating a panic for gold, which then quickly evaporated as cash dried up. This caused India’s annual consumption to drop in 2016. Central banks decreased their demand by 33% dropping to lows not seen since 2010.
So, who’s buying? It appears China’s jump in the purchase of bars and coins in the 4th quarter of 2016 along with gold and silver ETF’s and the U.S. were the big drivers behind the rise in prices. That means that investors were driving upward price action. In fact, gold investment (the combination of ETF’s and bar and coin purchasing) rose a whopping 70% in 2016.*
But was 2016 truly the start of the bull market in precious metals? We have all been fooled more than once. As of this writing it appears precious metal prices have a long way to run to prove this is the next real leg up. Keep your eye on the $1380 range. In my opinion, if we take that out, then what we are seeing is real.
Win a 2 Carat Diamond At The Champagne and Diamonds Brunch Held at the Witte Museum
Medlars Jewelry is once again participating in the annual Lo Bello Champagne and Diamonds brunch. Join us for your chance to win a genuine 2 carat diamond valued over $30,000. All proceeds go towards a college scholarship program for students in our community. The Lo Bello Women's Association consists of several local business women that volunteer their time to improve the lives of others.
No other event offers such fun, bling, a great brunch, champagne, silent auction, fabulous music and dancing. This official Fiesta PMO event helps kick off a whole week of Fiesta fun.
In the last few years, scientists have calculated that wurtzite boron nitride and lonsdaleite (hexagonal diamond) are both harder than diamond. Diamonds get their hardness from their cubic crystal structure. Wurtzite boron nitride has a similar structure, but consists of different atoms, and lonsdaleite is made from carbon atoms that are arranged in a different shape. These differences are what make these two minerals harder than diamonds. In fact, some say lonsdaleite is 58 percent stronger than diamond. So far, its only used for industrial purposes so you won't be wearing these stones on your finger, but they are definitely "cutting edge".
2. DIAMONDS CAN EAT OTHER DIAMONDS AND GEMSTONES Talk about a two for one deal! A "mineral inclusion" happens when a “guest" crystal such as garnet, graphite or even another diamond get swallowed up and crystallize together. This happens when a diamond crystal grows faster than its counterpart and permanently encases it. The parasite mineral trapped inside creates a very unique and specific finger print identifying a diamond. This type of inclusion, although creating a diamond that is not flawless, is preferred by those who want a unique, one of a kind, non-conformist diamond gemstone valued for its character. A diamond host to another mineral crystal is strong evidence that it formed much deeper in the earths mantel than other diamonds formed in kimberlite volcanic material.
3. DIAMONDS IN EVERY COLOR OF THE RAINBOW Although colorless and near-colorless diamonds are the most popular, a diamond can be any color of the rainbow. The rarest of those colors are red, green, purple, and orange. Yellow and brown diamonds are the most abundant. Diamonds are 99.95% pure carbon. The remaining .05% is a trace element that can affect the diamonds color. If you see a colored diamond and the price seems too good to be true, the chances of it having some type of color treatment is likely.
4. A NEW DIAMOND CLASSIFICATION FOR AN OLD CUT "Circular Brilliant" is the newest GIA (Gemological Institute of America) diamond cut classification. "GIA sought to address older-style diamonds that aren’t strictly Old European, but also aren’t cut to meet modern standards. This designation acknowledges that the diamond is not a modern-day round brilliant, suggests a description for rounds of earlier times, and keeps the historic old European cut definition unaltered."
5. LOOK MA, NO HANDS!
If you have a loose diamond, this is a neat trick that many people in the industry don't even know. Diamond is the only gemstone that can adhere itself to the underside of a glass table. First, the underside of the glass table and the top of your diamond must be very clean. Handle the diamond with a lint free cloth or gloves to avoid finger prints on the diamond and glass. Second, apply the diamond, with the top flat side up, to the underside of the glass. It may take a couple of tries until you get it perfectly placed. The diamond will hold itself to the glass without the help of anything else.
The reason for this "magic trick" is due to a diamonds' surface luster called adamantine. "Transparent minerals with very high indices of refraction have a non-metallic, brilliant manner of reflecting and transmitting light called an adamantine luster. Diamond is the best known adamantine mineral."
6. A COOL WAY TO TEST IF A DIAMOND IS REAL
Draw a straight line on a white piece of paper. Place a loose stone face down, centered on the line. If you can mostly see the line through your gemstone, then it's likely NOT a diamond. Notice the example to the left. The refraction of a diamond's facets will not allow the line to display through the stone. However, a CZ or other diamond imposter like what you see on the right has far less refraction of light, allowing the line to be visible through the stone. 7. FIRE CAN DAMAGE A DIAMOND
Although diamond has a high rating of hardness, that doesn't mean it's immune to damage. Diamonds will burn at about 1562°F (850°C). House fires and jewelers’ torches can easily reach that temperature. If the diamond has suffered fire scale on its surface, the only way to remove it is by re-cutting the diamond. Sudden and extreme temperature changes can cause thermal shock and create new fractures and cleavages or cause existing ones to spread. A diamond can even be incinerated. 8. THE AUSTRALIAN ARGYLE MINE PRODUCES THE HARDEST DIAMONDS ON EARTH It is believed that diamonds from the Australian Argyle mines have an atomic structure different from other diamonds around the world. The theory is that their atoms are bonded together into very complex arrangement. Greater complexity equals greater hardness. It’s possible that the reason is that most diamonds are found in volcanic mineral deposits of kimberlite, and the Argyle mines' diamonds are found in less common lamproite mineral deposits. It hasn't been concluded, but it is theorized that the different mineral deposits can be a factor in the increased hardness.
9. CHLORINE WILL NOT HARM A DIAMOND An untreated diamond (not laser drilled, fracture filled, etc..) will not be harmed by contact with chlorine or a number of other household chemicals. However other gemstones and their mountings may NOT be resistant to chemical damage. The alloys used in karated metal (sterling silver, 10kt, 14kt, 18kt and so on) may be susceptibleto damage by various chemicals.
10. SAPPHIRE VS. DIAMOND A diamond is #10 on the Mohs scale of hardness, with sapphire at #9. Did you know that the Mohs scale is not a proportionate measurement? The Absolute Hardness Scale is more precise and shows that diamond is 4x harder than sapphire. Although next door neighbors on the mohs scale, they are a Texas mile apart. That's why the facets on a diamond are sharp and defined even after many years of wear and tear; where a sapphires' facets can become abraded over time.
Steeped in tradition, parties, and fundraising, Fiesta is one of the largest events of its kind in the country! Official dates this year are April 20-30, but anyone in San Antonio can tell you that preparation happens all year long.
Things like the gowns and crowns can take months to complete. Our master jeweler, Edgar Hidalgo can attest to this personally. He has made crowns for two different King El Rey Feo’s. This king is also known as the “Ugly King”. The term comes from a medieval tradition in which peasants elected one of their own as King for a day.
The first Rey Feo in San Antonio was crowned in 1947. He became an official part of Fiesta in 1980. Candidates for the title raise money for the LULAC Rey Feo Scholarship and that money is awarded to students for their college expenses.
Master Jeweler Edgar Hildalgo and King Rey Feo history:
The second design was made for Ronnie Gabriel of Gabriel’s Holdings in 2013. Ronnie is a second-generation Rey Feo following in the footsteps of his father Johnny D. Gabriel, Sr. Ronnie’s design represents family. Grapes for the wine that built their business, initials of the family, and the water symbolizing the San Antonio river. This crown was made of gold plated silver, making it a very heavy crown, so Ronnie often wore another crown during events.
Being part of San Antonio history is what we love at Medlars. The millions of dollars raised during Fiesta help so many people and make our community a great place to live. Send us pictures of yourself at your favorite event! We will share the fun on our Facebook page or Instagram!
Precious Metal Quotes
Click HERE to view up daily metals price indications for the most popular gold and silver coins.
Medlars Guarantees Our Work
At Medlars, we ensure enduring quality and satisfaction.
We guarantee ALL of our work and materials to be free of defect for a period of two years from the date of purchase. We will replace or repair as necessary any defect at our cost. This includes all parts and labor. Our guarantee does not cover damage caused by abuse or accidents.
We guarantee the silver, gold, or platinum purity of our jewelry, our custom design, and our restoration work. We further guarantee our stated weight and quality of the stones we supply.
Added Value Guarantee
Every finished ring (not just a simple solitaire but EVERY ring) purchased at Medlars includes Free Sizing, Free Appraisal for insurance purposes, plus Free lifetime cleaning, maintenance inspections, and polishing. At Medlars your purchase is the beginning of a lifetime of our personal attention and care.
Return and Exchange Policy
If for any reason you are not completely satisfied with your jewelry purchase, you may return it within 30 days of the purchase date for a full refund or exchange (not just a store credit) .
Custom designed jewelry is not returnable.
You may trade in your undamaged diamond, purchased from Medlars, for any diamond at least twice the trade-in value of your diamond. The trade-in value is your full original purchase price excluding sales tax and any labor. Colored gems are not eligible for trade in.
Price Protection Guarantee
If within 90 days of your purchase, you find a diamond with the same specifications, graded by the same gemological laboratory, at a lower price in the United States, Medlars will match it and give you 10% of the difference.
Here's how it works:
Bring in the actual diamond with certification and sales receipt.
A competitor’s diamond certification must be from the same laboratory . The competing diamond must have the following matching characteristics: