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Market Comments 7/8/2010

Jul 8, 2010 6:00 PM  
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Trading activity slows, demand for rough eases and polished prices soften slightly as U.S. summer vacations begin. De Beers Diamdel unit sells 95% of 157 lots auctioned online in 2Q and says competition through 1H remained most intense for rough in 2 ct-plus sizes. SpendingPulse reports 10% rise in June jewelry spending despite 3% decline in luxury sales. Gitanjali plans 500 new stores in Asia Pacific and remains cautious about U.S. Safdico to open distribution office in Israel. Israel’s June polished exports +149% to $458m, rough imports +42% to $389m. Diamond Council of S. Africa CEO Braen Migogo resigns.
Tags: De Beers, Diamdel, Israel, Jewelry, Safdico
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