As the diamond market slowly returns to pre-crash levels companies looking to increase profitability are calling upon their countries to change tax codes to be more favorable to the diamond market. Other countries that are looking to capitalize on mineral wealth are imposing new tax regulations on mining operations to benefit their nations.
Zimbabwe’s approved rough diamond export to Dubai is raising Jewelers of America’s concern. To prevent any future problems JA President Matthew A. Runci decided to call Kimberley Process (KP) to not authorize any further shipments of goods originating from the Marange until corrective measure have been taken. The news added the information: Following this development, [...]
The discovery of a 507 carat white diamond has proved to be encouraging news, not just for Petra Diamond which discovered the gem, but for the industry as a whole. Improving demand and positive announcements have had Canadian diamond juniors brushing themselves off from last year's crash. The sparkle is back in the investors eye.
Shares in Gem Diamonds surged 12.9 percent, building on Friday’s 20 percent gain, as investors react to a recovery in demand for rough diamonds with market conditions looking more positive. Desmond Kilalea, a diamond analyst at RBC Capital Markets, stated: They have just raised money and we know diamond prices are getting a bit better. [...]
A global mining concern is prepared to pump more than US$2 billion into diamond mining as the Government steps up the drive to revive the Zimbabwe mining sector. For full story, click here
The day after Thanksgiving has long been known as “Black Friday”, a moniker that denotes the fact that it is on that day that retailers go from being in the red, to the black. Many stores open as early as 4 am, coaxing shoppers through their doors with ‘once a year’ sales.
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.
Buying diamonds for jewellery is a common practice, but investing in them and trying to turn a profit is not for your average folk. Diamond investing is a little bit tricky, especially for those who have started investing in precious metals, and then take the leap to diamonds, assuming that they behave in the same fashion. Once someone decides to take the leap, they are in for one heck of a ride.
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