Friday, 11 September 2015

Diamond prices hit by stock market slum

Is it time to splash on some investment jewelery? The answer may be yes if you fancy a diamond ring, with prices for the gemstone down as much as 29 percent since last year. 
Diamond prices softened in August, as the global stock market slump hit discretionary spending and jewelry demand in China thanks to a clampdown on luxury gift-giving and the slowdown in the world's second-biggest economy.
 Prices for benchmark 1-carat (0.2 gram) diamonds fell by 0.9 percent last month, while cheaper 0.30-carat diamonds fell by a 1.7 percent, according to data out on Wednesday from the Rapaport Group, a body supporting the international diamond trade.

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