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Diamond News Broadcast

Higher Prices at De Beers, BHP Boost Revenue

Aug 24, 2011 7:00 PM   By Rapaport News
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Download MP3 audio. The August Diamond Trading Company (DTC) sight experienced an average price increase of 4% to 8% and the overall sight estimate was up 48% year on year. But most of that increase was due to rough price hikes. Sightholders  expect DTC boxes to continue selling close to list  due to current liquidity issues facing some manufacturers.  BHP's diamond sales jumped 12% in its fiscal year through June 2011, and even though production fell 18% -- again, higher rough prices  compensated for a production decline. Retail results coming this week include Signet and Tiffany & Co., and Zale announces results next week. Michael Hill though reported strong fiscal year results and all regions experienced sales increases except for the U.S.   Record gold prices led to a boost in second-quarter demand in terms of value. Demand for gold jewelry rose 6%, and in terms of value that figure jumped 34% to $21 billion.




Tags: diamond, gold, Jewelry, prices, Production, Rapaport News, rough
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