No change for diamond prices in 2012

15 Mar / 12
No change for diamond prices in 2012
Due in large part to the high demand in both India and China, diamond prices are expected to remain stable for the remaining portion of 2012. This is according to a report that has been released by Goldman Sachs. They are also looking to the United Statesí improving macro-economic situation as another factor as to why we can expect the prices of our diamond jewellery to remain steady proving to be good for both the consumer and retailer. India is one market that an analyst from Goldman Sachs said to keep a close eye on to forecast the future cost of diamonds. Two analysts stated that the appreciation of the rupee compared to the U.S. dollar has lowered the price for domestic currency for consumers in India. With the India Reserve Bank of India stepping in to increase lending capacity by almost $10 billion this should ease access to funding for both diamond dealers and diamond cutters. As for China, the analysts stated that the country has plans to make a consumer driven economy which should prove to be a major boost for the diamond industry all together. This along with the expected cut to import luxury taxes later this year makes the analysts believe that the diamond market price in China should have a strong demand for a long period of time. As for the next couple of years, Goldman Sachs is expecting a possible increase in diamond prices by 5 percent for both 2013 and 2014.
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