De Beers Sees 'positive Signs'

Published on 09/06/09

A major diamond body has claimed that it sees positive signs for the sector.

Gareth Penny, managing director for De Beers, said during a presentation in Antwerp that recovery is in sight for the industry, lovers of pieces such as gold diamond rings and diamond stud earrings may be interested to hear.

He told the audience that his company is seeing demand for its rough diamonds pick up.

Mr Penny added: "De Beers production is increasing to keep pace with demand. Retail sales have also shown an improvement."

He went on to say that it is a "pretty reasonable assumption" that the market will perform better during this Christmas season than it did in last year's festival period, with rough prices expected to be "more in line" with polished values.

In other industry news, Forevermark has unveiled its Diamond Grading Report, which it claimed will help ensure that gemstones meet the company's standards.