A glimmer of hope for the diamond market

Diamond Investing News reports diamond market is seeing some movement recently.

“We saw a slight return to demand-driven buying,” said one industry observer who attended the London event. “There’s a lack of rough in the market at the moment and everyone is looking at the goods much more seriously than previous months.” Participants were quick to point out that their purchases were curbed by the fact that DTC’s prices are still high relative to other sources in the market. Diamantaires dramatically scaled back their rough diamond purchases toward the end of 2008 after global economies fell, due to a lack of orders and the banks’ tightening of credit to the industry. DTC responded by committing to smaller sights until market conditions improve.

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