Gem Pricing Report

The colored stone market has turned attention toward the February Tucson Gem Fair. Dealers are expressing cautious optimism that the show will indicate an uptick in retail demand. Currently, market demand is focused on finer-quality as well as unusual gems but has been generally weak. Demand for mid-grade material is still soft. Retailers report that blue sapphire remains the most popular colored stone in the U.S. market. Emeralds are expected to enjoy healthy demand this year. Buyers can expect better-quality stones to be in short supply. Earlier this year mining slowed and in some cases was suspended completely at deposits around the world because of the lack of buyers. Several closures lasted months. The strategy averted an oversupply that could have sharply eroded price levels. By early fall, production had resumed at these operations, signaling a rise in dem
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