Diamond sales expected to be strong this Christmas: WDC

THE relatively healthy US economy and positive signs in India and China are expected to drive demand for diamond jewellery during the Christmas shopping season, as opined by Eli Izhakoff, the chairman of the World Diamond Council, according to reports.

Izhakoff said that strong fundamentals and an overall positive situation could help to reduce bloated rough inventories, which were caused due sluggish sales in the first half of the year.

He noted that Christmas season retail sales were expected to be slightly better versus a year earlier. This, in turn, would clear up some of the congestion in the diamond pipeline, he added.