Rapaport Press Release
Rapaport Issues January 2011 Research Report: The Uptrend Continues
RAPAPORT... Press Release, New York, February 3, 2011 -- The positive trend in polished diamond prices continued in January supported by Far East demand in preparation for the Chinese New Year. Prudent restocking by U.S. wholesalers has also begun amidst continued economic uncertainty. Caution remains on whether the positive consumer spending experienced through Christmas will be sustained through Valentine’s Day and the first quarter of 2011.

 

Certified polished diamond average asking prices increased 1.6% on RapNet – Rapaport Diamond Trading Network in January, with half carats up 1.3%, one carats up 3.1% and three carats up 0.3%. Prices of small, inexpensive diamonds at Rapaport Auctions also strengthened during the month. Average prices on RapNet were 11.7% above levels seen a year ago, at the end of January 2010. 

 

Supply shortages are spurring higher prices in rough and polished diamonds. De Beers kept prices stable at the January Diamond Trading Company (DTC) sight, which influenced higher prices on the secondary market and has fed expectation that a DTC price hike is imminent in February.


“Positive retail trends continue to emanate from the Far East and India, feeding optimism in the dealer market. Supply side management of rough diamonds continues to impact market prices and encourage speculation. Political risk and uncertainty driven by current events in Egypt are expected to increase demand for large expensive diamonds which are in relatively short supply and subject to speculative price levels.” said Martin Rapaport, chairman of the Rapaport Group.

 

To download the January Research Report: ‘The Uptrend Continues’ go to www.diamonds.net/report. To receive a copy to your inbox, email: specialreport@diamonds.net.  


About the Rapaport Group: The Rapaport Group is an international network of companies providing added value services that support the development of free, fair and competitive global diamond markets. Established in 1978, the Rapaport Diamond Report is the primary source of diamond prices and market information. Group activities include publishing, research and marketing services, internet information and diamond trading networks, global rough and polished diamond tenders, diamond certification, quality- control, compliance, shipping, and financial services. Major activities of the group include the development of markets for Fair Trade Diamonds and Jewelry as well as the creation of diamond futures markets. Additional information is available at www.Rapaport.com.



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