In the wake of the Kimberley Process Scheme meeting in Jerusalem, no decision has yet been made on lifting the export ban on Zimbabwe’s “blood” diamonds, and Indian merchants are pushing for trade to be resumed.
Diamonds could very well represent the next safe haven for investors, much like gold and silver, as investors flee the financial markets for more secure investments.
Diamond values held steady in July, after rapid inflation earlier in the year. Weak consumer demand in the US, coupled with fear that the recession will spread globally put the lid on prices. Diamond values are still up 15 percent compared to a year ago.
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