Diamond markets

Discussion in 'Economics' started by Gringinho, Oct 5, 2008.

  1. http://www.reuters.com/article/reutersEdge/idUSL126151820080312
    Record diamond prices spark fears over speculation
    Wed Mar 12, 2008
    LONDON (Reuters) - Strengthening demand for top quality diamonds has pushed prices to world-record highs, but investments in the gemstones could sour if economic turmoil forces speculators to flood the market.

    Surging global economic growth and a rapid fall in the dollar have pushed commodity prices, including the rarest polished diamonds, to all-time peaks in recent months.

    De Beers rough diamond prices up 16 pct in 2008
    Tue Aug 19, 2008
    LONDON, Aug 19 (Reuters) - De Beers has boosted rough diamond prices by 16 percent so far this year due to strong demand, the firm said on Tuesday.

    De Beers, 45 percent owned by mining group Anglo American (AAL.L: Quote, Profile, Research, Stock Buzz), said in July it was cautious about developments in the second half due to a downturn in the United States, the top diamond jewellery market.

    The firm's marketing unit, the Diamond Trading Company (DTC), has increased prices for rough, or unpolished, diamonds several times this year. The latest 16 percent cumulative figure included a further hike in August, a statement said.

    Market turmoil hits small miners, rivals circle
    Fri Sep 26, 2008
    LONDON (Reuters) - The latest turmoil on financial markets is hitting hard many small mining firms as their share prices slide and funds dry up while bigger rivals with cash are shopping around for takeover bargains.

    Over the past few years, investors poured money into a slew of exploration firms and single-mine companies which achieved stock market listings amid a rally in metals prices and easy credit.

    But many firms are running out of cash and are unable to raise funds by issuing equity amid a crash in shares while finding the door shut at banks which see the projects as too risky in the current climate.

    Super-rich still pay dear for rare diamonds
    Sat Jul 5, 2008
    LONDON (Reuters) - The rapid rate of increase in wholesale prices of rare polished diamonds is unsustainable, but for now the growing number of super-rich are paying rising prices for top-tier diamond jewelry.

    Charles Wyndham, founder of PolishedPrices, a leading index of wholesale diamond prices, said on Friday prices of larger, rare, near-flawless gemstones had shot up by roughly 200 percent over the past 18 months.

    The surge has been driven by increased interest from a growing number of multi-millionaires in emerging markets, a shortage of rough diamonds, and the dollar's slide, he said.

    Diamond jewelry prices have risen in tune with wholesale diamond prices, but fine jewelers like Graff and Cartier say demand is holding up well for top-tier diamond jewelry in upscale retail outlets on Bond Street in London and in New York.

    Natural diamonds are WORTHLESS - except for filthy greedy sluts glorifying their ugliness with jewellery bling.
    It is a pure bullshit market - the most biased shit ever produced...
    At least it seems the diamond sellers were having a nice run-up into the crisis.
  2. Absolutely right. Another emperors clothes worthless nonsense market.

    You cant even wipe your ass with diamonds.

    makes gold look good.
  3. Natural diamonds are extremely common, and only through monopolistic and cartel activities has their value been artificially supported throughout history.

    I will try to find the data link, but I do believe less than 1% of diamonds mined by DeBeers are actually released onto the open market in any given year.

    The arrival of engineered diamonds, many of which are superior to natural stones, and the recent ones being of such incredibly quality that even foremost experts can't detect whether they're natural or lab made, will hasten the demise of the diamond trade.
  4. Diamonds are a defacto currency of the underworld. Outlaw biker gangs have a gemologist on staff. Very sophisticated black market in need of a currency.
  5. Daal


    We need a diamond ETF