Gem Pricing Report

Cash flow remains a concern for many gem industry participants. The consensus is that business in the U.S. market, although very slow, has improved. Manufacturers report that retail jewelers stopped buying for stock in late 2008. Although this remains largely unchanged, custom work and special orders have picked up. Producers caution that, unlike in years past, retailers can expect memo to be very tight this season. One manufacturing jeweler explains, "This season, long-term memos will be reserved only for my best, most loyal accounts. Our sales are down 50 percent from last September. We are not in a position to finance someone else's company." In the colored stone market, with the exception of a few notable gems including tanzanite, prices for most fine- and extra-fine-quality material have remained stable, and in some cases, including red spinel and
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