Diamond Industry Relies On Holiday Sales

Bloomberg reported Gem Diamonds Ltd. (LSE:GEMD) said holidays will be make or break for the diamond industry after a slow year.

As quoted in the market news:

Rough diamond prices fell 13 percent in the second quarter as Asian purchases slowed and the euro zone debt crisis eroded demand, according to data compiled by WWW International Diamond Consultants Ltd. Prices have risen by more than 20 percent in each of the past three years as producers struggled to keep pace with consumption.

Click here to read the full Bloomberg report.