Connect with us

Headlines

Analysts: After Hot Streak, Diamonds May Slump This Summer

Credit crunch, weak global demand could mean fall in prices.

mm

Published

on

Rough-gem prices are up by more than 10 percent since the start of the year and have risen for four straight months, though the second half of the year figures to prove more challenging for the diamond industry, Bloomberg writes. The article says that it’s been six years since diamond prices increased in the July-December time frame, and now weaker global demand along with credit tightening for diamond polishers are two factors that are working against the industry.

“I can’t see a good summer ahead,” Ben Davis, a mining analyst at Liberum Capital Ltd, told the business news outlet. “From here it’s hard to be optimistic. … I don’t think we’ll test the lows we saw in January, but we could drift lower. There’s definitely a risk we’ll drift down in the third quarter.”

Read more at Bloomberg

Advertisement

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

Promoted Headlines

Most Popular