De Beers to raise price of rough next week

[ydiamonds]

De Beers announced today it will raise the price of rough next week, to +8.5% this year on top of the +4% increase in the 2nd half of last year. De Beers expect prices of gems to go up this year due to electricity shortages in southern Africa and falling production. South Africa represents 30% of De Beers total production. Rio Tinto and BHP last week reported a drop in first quarter diamond output due to rain and poorer grades. Strong demand from China, India, and Middle East for larger and better quality diamonds also contributing to strong prices (De Beers CEO).

 

[UCLABelle]

This is bad news

 

[Foilhelmet]

Bad news for those looking to buy,

Good news for those who already own!

 

[innerkitten]

Bummer.
I''ve already noticed jewelry prices seem higher (online at least) than they did just 6 months ago. That could also be because of the prices of gold and platinum. I''m hoping to get a ring project going this year. I guess it means that by the time I get around to it prices will pobably be up even more.

 

[ValGirl]

That can''t be good. We just put a deposit on a diamond but we decided to cancel that and search for another one after posting the details here and finding out that it wasn''t a great deal.

We better get back to searching, hopefully the prices don''t go up that much.


Valerie

 

[wawatu]

i have a copy of the rapapport from mid March and got the latest one from my appraiser dated mid April, higher grade 1 carat and 2 carat prices went up again. I thought the rapapport just had a overall price increase a few months ago. Do rapapport prices ever go down?