Diamond Demand 'remains High'

Published on 02/10/08

The price of diamonds is remaining strong despite the credit crunch, it has been suggested.

According to Robert Gannicott, chief executive officer of the Harry Winston Diamond Corporation, the need for safe investments during the current economic climate is helping the price of diamonds, reports Bloomberg.

Demand for the gems, which are traditionally used in items including diamond drop earrings and gold diamond rings, is high within areas such as Russia, the Middle East and Asia, the source claims.

Mr Gannicott states these factors mean diamonds could give positive returns to investors.

He told the news provider: "If you bought good quality stones five years ago, you're looking at a much bigger win than anything in the stock market."

Mr Gannicott went on to say there is "a lot more upside" in diamond prices than the public realises.

Recently, it was claimed by JCK-Harrison Group the amount of consumers buying diamond jewellery online has increased by 39 per cent in the last nine years.