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Published on 29/11/11
De Beers, supplier of about a third of the world’s rough diamonds, said prices of the gems may “stick” at current levels after demand from India and China spurred a rally of more than 35 percent this year.
Rising wealth in the two countries is enabling consumers to buy more diamond jewelry, compensating for slower growth in the U.S., the biggest retail-gem market. Demand from East Asia has caused a supply shortage, which pushed up prices this year, Chief Executive Officer Philippe Mellier said in an interview.
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