5 Reasons to Buy New Earrings
Earrings frame the face, so you want the look to be on point! Many PriceScopers don’t need a specific reason to do some jewelry shopping. We have a few reasons…
By Erika W.
In an interview with The Australian, Garry Holloway discusses a 30% rise in polished diamond prices over the next two years. His comments come after reports of industry consolidation and growing investor interest in diamonds. Rio Tinto and BHP Billiton have expressed intent to sell diamond assets, and private equity firm Kohlberg Kravis Roberts & Co. (KKR) is interested in their diamond operations, including Rio Tinto’s Argyle Mine in Western Australia. Also, investors are looking to turn diamonds into a commodity similar to gold–readying the launch of diamond ETFs in the near future. If you consider mine consolidation and changes in the investment world, along with rising demand from India and China and diamond rough shortages, then Holloway’s 30% projection is on target.
From The Australian:
Mr. Holloway said yesterday consolidation of the world’s diamond mines, which he said looked likely given the speculation around KKR, would irrevocably increase the price of diamonds, potentially forever.
He said he believed the big resource companies tended to act in concert, so further consolidation in the industry would equal higher diamond prices at the mine gate.
“I estimate the cost of polished diamonds to rise in price by more than 30 per cent in Australian dollar terms over the next two years,” Mr. Holloway said.
“Diamonds will make an even more attractive value proposition for those looking to invest in an asset class that is both beautiful and lasts forever.”
Read the full article: Diamond prices tipped to sparkle
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