Reuters reported polished diamond prices may struggle to hold onto gains in the first quarter of 2012 due to worries over the global economic outlook.
The prices for rough diamonds has recently fallen. Is this a sign that diamonds are losing their shine?
Diamond consumption and prices have been on the rise this year. Demand in India and China are expected to keep that momentum going throughout the remainder of 2011.
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.
With all of this favorable press regarding gold and its intrinsic value, many investors have missed the news that prices for investment diamonds have actually performed slightly better than gold during the first half of this year.
The fight for control of natural resources is heating up between the two fastest growing economies. In a secret deal with Zimbabwe, the Chinese military has secured permits to mine the Marange diamond fields. India, looking to control its supply of rough stones for Surat’s cutting and polishing sector is looking to aide African Nations with medicines, and infrastructure projects.
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 days of De Beers dominance of the worldwide diamond market may be over as Alrosa, Russia’s diamond giant, is the new King. Anglo-American may be looking to publicly list De Beers in London and Botswana, as well as selling shares of the under-performing company. Healthy sales numbers from world production centers and increasing imports to the US are making for a strong 2010.
A $490 million deal between Russian Diamond giant Alrosa and Indian firms strengthens India’s diamond industry. Companies such as Rosy Blue and Diamond India, headquartered in Surat, India are responsible for 90 per cent of the global polished diamond output.
China is now the world’s second largest economy. This massive increase in wealth has created a massive desire for luxury goods, diamonds included.
Monday, January 30, 2012