Gem Pricing Report

Spending on luxury and fashion has declined. A report from Tanzania indicates that tanzanite prices have dropped 25–30 percent in the Arusha market, the result of weak global demand, say dealers. Similar reports are coming in from Madagascar and the Thai-Burmese border towns that once were active rough trading centers. The lack of buyers comes in response to the weak retail outlook this season. Manufacturers say critical October orders fell short. The mood in the market is one of extreme caution. Dealers say high-end ruby and sapphire are harder to find. There's speculation that some high-end material is being withheld to protect current price levels. Top goods in other rarer gem varieties are also scarce. Dealers say all goods now have two prices, cash now and terms. Few dealers are extending long-term open memos. In the diamond market, premiums are disappearing and discounts are

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