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Your Engagement Rings Are Going To Get More Expensive!
The world's biggest diamond producer De Beers boosted rough diamond prices by an average of 5 percent this month, the firm said on Friday.
The price hike by the group's marketing arm, the Diamond Trading Company (DTC), came amid strong demand for diamonds in Asian emerging markets and tight supply, which led to price increases of 8.5 percent earlier this year.
A De Beers official said last month that buoyant diamond demand from China, India and the Middle East would more than offset expected slower sales in the United States, which accounts for half of the diamond jewelery market.
Coupled with steep price increases in the prices of Platinum and Gold, for many guys this might lead to downsizing the carat weight of their target diamond in order to stay within their budget.
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