Polished Diamond Prices Take a Leap

Mineweb reported that polished diamond prices are “suddenly soaring higher.”

As quoted in the market news:

While places in South India have registered a hike of 40% to 50% in diamond prices, diamonds in Mumbai are more expensive by around $506 (Rs 30,000) for a one carat stone.

The price of big stone carats have also jumped by 20% in North India. Jewellers have attributed the sharp rise due to lower supplies and higher demand in the country, reflecting a positive outlook for the diamond sector.

Bangalore Jewellers’ Association’s DV Ramesh has maintained that the shortage in the market has been brought about by an increasing rarity of diamonds from the diamond mines of Africa, Australia, Canada and Russia, which are no longer producing very high quantity of gems.

Click here to read the full Mineweb report.