Best Investment Right Now
World’s Second Largest Diamond & European Markets Positive
Canadian mining firm Lucara Diamond has unearthed the world’s second-largest diamond in Botswana. The 2,492-carat diamond falls short of the 3,106-carat ‘Cullinan’ diamond discovered in South Africa in 1905 that was cut up and incorporated into many of the British Crown Jewels including the King’s crown.
The gem was discovered at the Karowe diamond mine in northeastern Botswana using X-ray technology. The same mine also produced the 1,758-carat ‘Sewelo’ diamond sold to French Luxury brand Louis Vuitton for an undisclosed sum, and the 1,109-carat ‘Lesedi La Rona’ diamond for $53 million to multinational jeweller Graff Diamonds.
It seems diamonds and the mining industry are an investor’s best friend.
European markets were buoyant in anticipation of the Fed and Jerome Powell’s speech later today. Markets anticipate a much-needed rate cut next month and hope the speech will indicate one. The annual conclave in Jackson Hole often outlines monetary policy and the direction of broader policies. The Stoxx 600 was up 0.15%, with banking stock up 0.68%. Banking stocks seem to be a good bet, with recent performance showing favourable returns.
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