Diamond Popularity Increases

Published on 11/09/08

The popularity of diamonds in Dubai has increased, according to a source.

It has been claimed "the aesthetic value of diamonds is gaining popularity", reports Gulf News.

Recent figures show diamonds have enjoyed a 60 per cent year-on-year sales increase, the newspaper states.

Karim Merchant, chief executive officer of Pure Gold Jewellers has stated the growth in sales of diamonds, which can be used for items such as diamond stud earrings and diamond pendants, is faster than that of gold.

He told the source: "For sure the growth rate for diamond jewellery is higher than gold jewellery. Resale value of the jewellery is still an important factor."

Meanwhile, the Dubai Diamond Exchange has this week announced a 36 per cent rise in the rough diamond trade during the first half of the year, reports jckindia.com.

The increase leaves the industry worth $3.03 billion (£1.73 billion) for the time period, the website adds.