Market conditions are more muted than initially projected for midyear. Turmoil in the Middle East and Ukraine continues to foster more caution and restraint. Slower spending in China is just one of several conditions that could trigger a price correction in the ruby market. With current ruby prices greatly limiting consumer access, demand for colored stones has been concentrated in alternative red gem varieties. Tourmaline, garnet, and spinel continue to benefit from these market conditions.In the sapphire trade, the top sellers include the fancy varieties: pink, purple, and green. Yellow is a
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