Friday, February 19, 2010

Diamond Prices Going Up

Retail diamond prices are on the way up due to recent wholesale price increases. If you are going to be in the market for a new diamond, this may be a good opportunity to purchase for new priced stone hit the retail counter.

The Rappaport TradeWire reports that the De Beers sales division (DTC) raised wholesales rough diamond prices by 7 percent to 9 percent at this week’s February auction.  De Beers explained in a letter to authorized sightholders that they now anticipate a period of stability in respect of  prices, subject, of course, to any further major changes in market conditions.

The DTC has been able to adjust its prices recently due to the more positive economic and supply-demand developments that have been observed in the market of late, Borhanjoo added. Reports from BHP Billiton customers indicated that prices rose by an average of 3 percent at the company’s rough tender this past week.