You need Cold gems from Elders, so check this if you haven't:
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The 18% Arcane gem is a story gem from Nightmare of Mensis.
Glyph: p3umyztu, if you wonder. But any arena with this terrain would work.
So why would you need these Cursed Fire/Bolt/Arcane gems from the Merciless Watchers?
If you want better damage in L2, R2 or Charged R2, then Two Cold + Watcher Bolt would be the best assuming you have perfect +15 flat secondary on the Waning Cold. And if you prefer R1 and dodge R1, go for Two Cold + Abhorrent Beast Bolt. In any case, Two Cold + One Elemental is the best as long as you have perfect secondaries, it beats other setup such as One Cold + Two Elemental.
Also, 27.2% Arcane gems works very well on Kos Parasite too. Farming Arcane Gem from Ebrietas is easy, but getting perfect flat Arcane secondary is not, so you may consider to use Watcher Arcane gem.
Since Arcanists don't have high visceral attack damage, I think this is the most efficient way for us to farm it using the power of Arcane. If you haven't acquired the Kos Parasite, use Executioner's Gloves, should be pretty efficient against them.
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