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RAPAPORT...
The diamond markets in Belgium and Israel are seasonally quiet on the eve of summer holidays, while Indian demand is weak with trading mostly in SI and lower quality goods. The U.S. market, mainly out of New York, is preparing for the JA summer show, which will give an indication of how conditions have changed since JCK Vegas. Zale's refinancing arrangement this week should save the company about $17 million. Swatch Group sales and profit jump despite some headwinds. Gold prices have settled to just about where they were one year ago. 
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