[miningmx.com] – A SIX month decline in diamond prices was coming to an end, reported Bloomberg News in an article republished by BDLive. Bloomberg was citing the comments of Clifford Elphick, CEO of GEM Diamonds.
“Prices are moving sideways,” Elphick told the newswire service. “Demand is certainly not strong, but definitely not weak.” Prices would rise this year, he said.
Rough diamond prices fell 6.9% in the last three months of last year, the biggest quarterly decline in more than two years, and weakened further this year as banks tightened credit, forcing traders, cutters and polishers to sell more inventory, said Bloomberg News.
Click here to read the full article
