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.
Articles Tagged "china"
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.
In China and India, increasingly wealthy consumers who are adopting the western tradition of giving diamond jewelry to celebrate engagements and weddings are beginning to drive demand in the diamond market.
LJ International Inc. (NASDAQ:JADE), a premier diamond and colored gemstone jeweler recently announced that its Board of Directors has approved the change of fiscal year end to March 31 annually.
The International Business Times reported that by the end of the decade, majority of consumers of diamonds could likely be in Asia with an expected rise of diamond sales at $26.1B by 2020.
Colored diamonds may make flashy jewelry, but they are also a strong investment.
Reuters reported a Chinese-based diamond miner in the Marange region has promised to increase wages in efforts to end a strike.
Bloomberg reported an expected increased demand for diamonds from China will keep miners in Angola in business in 2012.
Reuters reported Bain & Company said diamond demand will grow by an estimated 6% over the next ten years fueled by markets in China and India.
Bloomberg reports Rapaport Group will start a fund for investors looking to bet on diamonds in India and China.