De Beers Raises Diamond Prices
By Rob Bates, Senior Editor -- JCK Online, 3/1/2004 2:00:00 AM
Effective with the January sight, De Beers has announced an average 3% jump in diamond prices.
"Most prices will rise with the average," the company said.
A statement noted that "demand for diamond jewelry improved in [the second half of] 2003, and expectations are for healthy growth in 2004. In addition, the decline in the dollar over the last six months has had a significant impact, decreasing the price of diamonds to consumers in over 40% of the world and increasing the cost of mining."
In an interview with the Financial Times, managing director Gary Ralfe said additional price increases should be expected this year.
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