US Diamond Market 'performing Well'

Published on 23/09/08

The American diamond market is continuing to perform well despite the credit crunch, it has been claimed.

Varda Shine, managing director for the Diamond Trading Company, made the statement at a recent conference, reports Jckonline.com.

Ms Shine claims the US bridal sector "remains positive", with the diamond market unlikely to see a "sudden change".

The managing director also noted increases in diamond demand for items such as brilliant-cut diamond rings within India and China, the website adds.

She added: "We anticipate that the remainder of the year will follow this pattern and 2008 will end at a small value positive."

Earlier this month, the Wall Street Journal reported the value of diamonds has risen by around nine per cent due to increased demand for pieces such as diamond stud earrings, according to research carried out by the Rapaport Group.

Meanwhile, Karim Merchant, of Dubai's Pure Gold Jewellers, told Gulf News diamond demand and popularity is increasing.