Diamond Prices May Fall Up to 13% to Rebalance

Kitco reported diamond prices could fall about 10% to 13% in 2012 as the supply and demand fundamentals are roughly in balance.

As quoted in the market news:

Chaim Even-Zohar, managing director for Tacy Ltd, an Israeli-based diamond consultancy, said based on research his firm does with Indian firm Pharos Beam Consulting in Mumbai, about $15.2 billion in rough diamond production was done in 2011, which was about $22 billion in polished value. Retail sales globally were about $70.8 billion.

Click here to read the full Kitco report.