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Consumers: Diamond Prices Are Going Up!
So what else is new?
DeBeers, the Diamond Cartel Syndicate has this fine tuned down to a science.
The Diamond Trading Company (DTC-DeBeers) informed its sightholders of an increase coming for its June 2007 sight.
"The DTC constantly reviews its pricing policy and has realigned some areas of its rough diamond pricing," said DTC spokesperson Lynette Gould.
Gould added that the overall effect of the price rebalance will be a low single digit percent.
Despite the expected increase, sightholders said they expect the increase to be accompanied by an adjustment in goods presented at the sight.
Sightholders were not surprised by the increase given the strong premiums in the market and the high demand for rough diamonds. "There's been strong demand especially for the larger stones of 2 carats and up," said one diamond trader and sightholder.
The DTC June sight, the fifth of the year, is scheduled for June 4-8, 2007, as the JCK Vegas show wraps up.
Guys: Shop carefully.
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