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Rough Diamonds Getting Stronger: Shortage of Supply: Polished Exports Upbeat: DTC Prices Harden: Polished Imports Gather Momentum
Rough diamonds are quite strong at present and might get even stronger in the coming months looking to the current tight supply position and continuing good demand even at higher prices.
By: Diamond World News Service
Jul 1 2010 5:19PM
Reference: 5093  


Sightholders’ Contracts Extended:

Meanwhile, the Diamond Trading Company has extended by one year the present three-year contracts for the supply of rough diamonds to their Sightholders. Fresh contracts will now come into operation only next year, after a fresh selection of Sightholders is made.

Diamond Exports Going Up :

Shipments of cut and polished diamonds from the country, according preliminary statistics, rose 115.62 per cent in dollar terms to US$ 1,941.88 million in April 2010, from US$ 900.59 million in April 2009 when they were heavily depressed in the wake of the global recession. The average unit value realization improved during the period by 25.27 per cent to US$ 360.67 per carat from US$ 287.21 per carat.
In terms of volume, despatches in April 2010 were up 72.12 per cent at 53.84 lakh carats against 31.28 lakh carats in the same month of the preceding year.

Rough Imports Upbeat :

Imports of rough diamonds too rose in April 2010 by 101.83 per cent to US$ 967.10 million, from US$ 479.17 million in the same month a year ago. The average import price per carat was US$ 70.24 in April 2010, against US$ 57.80 per carat for the same month of the preceding year.

Polished Imports Jump :

Imports of polished diamonds in April 2010 jumped 124.60 per cent to US$ 1,250.07 million, from US$ 556.58 million in the same month a year ago.

Gold Jewellery Gains :

Shipments of gold jewellery in April 2010 showed a comparatively modest improvement of 20.46 per cent to US$ 401.70 million, from US$ 333.46 million in the same month a year ago; largely due to higher prices of the yellow metal.

Bullion Quite Buoyant :

Bullion turned quite buoyant in the wake of the Greek Crisis which cast a shadow on the fortunes of Euro. Investors turned to the yellow metal in large numbers in search of a safe heaven for their wealth. Consequently, the yellow metal soared to a near all time high of about US$ 1,248.85 per ounce on May 14, lifting up silver as well to about US$ 19.69 per ounce. On the same day, Standard gold was traded in the domestic market at Rs. 18,325 per 10 grammes and silver at Rs. 30,120 per kg.
Holdings of the World’s largest gold-backed exchange traded fund SPDR Gold Trust, rose to a lifetime high of 1214.06 tonnes on strong investor buying.

Platinum was placed around US$ 1,715.50 and palladium around US$ 551 per ounce.

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Akash Soni
Hello , This is Akash Soni from Mumbai. I am exporter of Indian Minerals Specimens, roughstones, tumblestones ruby, sapphiers, pendants, pendulum, cabachones, runestones Chakra Jewelry. If you are intreasted in my products do let me know and i shall provide you best prices for it. Regards Akash Soni
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