Gem Pricing Report

Mining operations in major producing nations remain at a standstill. Key markets are seeing few foreign buyers. Colored stone markets across the globe report sparse trading activity. Prices are stable for most loose gem products, although cash buyers are reaping the benefits of a buyers' market. Thai dealers report that once-active trading centers have been empty because of the Burma embargo. They claim it's harming not only small-scale Burmese miners but also the network of Thai dealers and traders that brought these goods to market. The Thai gem industry feels that its members—and not the United States—are being forced to live with the consequences of the policy. In an overture that offers some hope, Secretary of State Clinton reportedly has signaled a willingness to reexamine the policy toward Myanmar. In February, colored stone pricing showed more softening in the commercial

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