Petra Diamonds Sees Promise After Slump

Bloomberg reported Petra Diamonds Ltd. (LSE:PDL) said there are signs of a recovery in demand after prices of unpolished stones slumped this year.

As quoted in the market news:

Petra sells through auctions, or tenders, in Johannesburg and Antwerp. Unpolished, or rough, diamond prices have fallen about 19 percent this year, according to PolishedPrices.com, as Asian buying slowed and the euro crisis eroded consumption of the gems. Prices rose more than 20 percent in each of the past three years as producers struggled to keep pace with demand.

Click here to read the full Bloomberg report.