Gem Pricing Report

While record per-carat gem prices are being paid in East Asia, the U.S. market remains cautious because of concerns about an economic slowdown. The weakened U.S. dollar is contributing to the higher prices U.S. buyers are finding overseas. In general, however, the gem market is growing. Because some foreign currencies are strengthening against the dollar, many dealers expect a significant increase in the number of foreign buyers attending the upcoming Tucson GemFair. One aspect of the domestic market has been largely overlooked by U.S. jewelry retailers. Despite heavily reported volatility in the ruby market, prices for most colored stones are still low. Many gems are "old" inventory, with prices based on "old" payments. The cost to replace these stones, however, is much higher today, partly because of the decline in the dollar's value against foreign currencies in some key producing n
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