Diamond Market Still Hot

Market in brief:October 5, 2005 . . . At press time, the Consumer Confidence Index was at a two-year low, and consumer spending had slowed. Retailers feel it’s too soon to worry about the impact on holiday shopping, and most remain confident. The season comes later in many areas, so there is time for the economy to pick up. The diamond market seems immune to slowdown. Scarcity of well-made rounds and princess cuts, especially clean stones in the collection colors, is driving demand. Well-made, 2 ct.-plus round diamonds are in demand. Three-carat plus rounds and princess cuts are difficult to find and prices are strong. Colored-stone dealers report that sales activity has been concentrated in the sapphire and tanzanite markets. Blue sapphire still outsells other colored stones. Sales of natural yellow sapphires have strengthened in recent months, while demand for pink sapphire has s

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