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Rough Diamond Market Experiences Best Increase Since Global Recession
7/20/2010 7:26:04 AM Simona Kogan
 The rough diamond is on its way back from a depressing global recession and reports an increase in US demand of their inventory, according to Petra Diamonds, a rough diamonds supplier.
The company, which mines diamonds in Africa, but bases its headquarters in Hamilton, Bermuda says there are expectations of a significant improvement by the end of the year and the diamond market is slowly but surely improving, especially in the US.
The output of global diamonds will be higher this year than in 2009, the company said.
It notes its own sales which jumped 88 percent to $177.7 million through June. It also sold more diamonds this year than it did at the same time a year earlier.
The output of global rough diamonds will be higher in 2010 than in 2010, the company reports, thanks to increased sales from Russian miner Alrosa and De Beers, but there will be a shortage in supplies within the next three to five years.
Gross sales jumped to $177.7 million through June. Petra sold 1.13 million carats compared with 1.01 million carats last year.
There was also a growth in demand from China and India. Some believe China will grow to equal the US diamond market within in the next 10 years.
Sales increased due in part to the sale of a 507-carat Cullinan Heritage diamond and a recovery in gem prices. The diamond was sold for $35.3 million in February to Chow Tai Fook, a leading Chinese jeweler. The price set a record for rough diamonds.
By the end of June, rough diamond prices will go back to the levels they were in June/July 2008.
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Belgian Polished and Rough Diamond Exports Rise Belgian polished diamond exports rose by 6 percent and rough diamond exports rose by 9 percent
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Harry Winston 4th Quarter Report Sunday, Apr 8 2012 5:29AM Diamond news agency,
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Harry Winston 4th Quarter Report Harry Winston Diamond Corp has reported an improvement in rough diamond prices in its fiscal forth quarter
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Invest in Diamonds Advise Experts Thursday, Apr 5 2012 5:10AM Diamond news agency,
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Invest in Diamonds Advise Experts Diamonds are a good investment opportunity for those looking to diversify their portfolios In 2011 the RapNet Diamond Index (RAPI) for one carat polished diamonds outpaced gold Diamond supply restrictions are expected to drive the price of diamonds up in the coming years and demand is expected to increase by 50% as a result of growing demand in the Chinese and Indian markets
“Over the past decade cross-asset correlations have nearly doubled (but) diamonds have exhibited very low correlations to other assets making them an attractive source of diversification They have almost no correlation to anything else – commodities gold equity markets” said David Riedel President of equity research firm Riedel Research Group
Experts claim that both loose diamonds and diamond rings work as investments
China and India are currently the top consumers of gold in the world The rising middle class in these countries and a growing population of young people is expected to considerably drive up the global demand for diamonds Sotheby's recent “Magnificent Jewels” sale in Hong Kong illustrated booming interest in diamonds in Asia The auction highlight was the sale of a 801-carat blue diamond ring for $127 million
“We expect cultural trends throughout emerging markets to drive demand for diamonds further A major trend increasing demand among the Chinese is a desire to display wealth” said Riedel
Some critics claim however that diamond investment is more suited toward industry professionals or those with expert diamond knowledge Investment in large high-grade diamonds are primarily the realm of wealthy international investors seeking alternative investments that are not correlated to the securities markets and not for individuals without prior diamond knowledge cite critics
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De Beers Reports Global Diamond Sales IncreaseThursday, Mar 29 2012 10:44AM Diamond news agency,
Shira
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De Beers Reports Global Diamond Sales Increase According to De Beers research global diamond jewelry sales increased by 10 percent in 2011 This primarily spurred by continued growth in China
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