BMO: Diamond Prices to Rise 6 Percent a Year to 2020
Bloomberg reported that the price of diamonds will rise 6 percent per year until 2020 as output fails to meet increased demand from China and India, according to BMO Capital Markets.
Diamond Market News Directory
Harry Winston Pays Record $26.7 Million for Colorless Diamond
Forbes reported that Harry Winston Inc. paid over $26.7 million for a 101.73-carat, pear-shaped flawless diamond at Christie's Geneva-based Magnificent Jewels sale, a record price for a colorless diamond.
Largest Flawless Diamond Ever Auctioned Could Sell for 20 Million Pounds
The Independent reported that experts believe that the largest flawless diamond ever auctioned, which is pear shaped and clocks in at 101.73 carats, will sell for 20 million pounds at the Magnificent Jewels auction in Geneva. The auction will be held by Christie's.
Central African Republic Faces Kimberley Process Embargo
The Wall Street Journal reported that the Kimberley Process has recommended a temporary embargo on the Central African Republic after a rebel coup occurred in the country in March. Alluvial diamonds are a main source of funding for the nation.
Belgian Authorities Charge Eight in Diamond Heist Case
The Wall Street Journal reported that of the 24 people arrested in connection with a major diamond heist that took place at the Brussels airport in February, Belgian authorities have charged eight.
Largest Auctioned Briolette Diamond to be Offered in Hong Kong
Forbes reported that on May 28, Christie's will feature what it claims is the largest briolette diamond ever to appear at auction at its Hong Kong Magnificent Jewels sale.
Police Make Breakthrough in Brussels Diamond Heist Case
The Globe and Mail reported that 31 people across France, Switzerland and Belgium have been detained as part of the police investigation into the $50-million diamond heist that took place at the Brussels airport in February. Further, police believe that diamonds recently uncovered in Switzerland were part of the stolen cache.
US and Israel Meet for Conflict Diamonds Discussion
JTA reported that Jose Fernandez, the United States' assistant secretary of state for economic and business affairs, is in Israel to discuss trade, particularly conflict diamonds.
Zimbabwe Needs “Accountable” Government to Manage Marange Diamonds
Nehandra Radio reported that despite the existence of the Kimberly Process, Zimbabwe's Inclusive Government, which is expected to be dissolved within the next month, has had little success in devising a strategy to manage the country's controversial Marange diamond fields. The Zimbabwe-based publication states that only a government with citizens' interests at heart will be able to make positive changes to the situation.
China’s Middle Class Spurring Demand for Mass-market Diamonds
Bloomberg reported that enthusiastic diamond buying from China's growing middle class has caused prices for "mass-market" diamonds to rise significantly faster than prices for more expensive, top-quality stones.
