Gem Pricing Report: The Corrections

Gem dealers are anticipating downward price shifts, but the market hopes to fend them offCurrent market conditions are consistent with the seasonal sluggishness expected during summer. Dealers report that activity has slowed in the commercial grades, but there is action at the high end. Heading into the important fall season—when retailers traditionally stock up for the holiday—the gem trade is facing price corrections in certain diamond and colored stone categories. Reports of a slowdown in the Chinese market have, apparently, removed an important barrier that may have prevented an earlier correction. Prices for many colored stones have seen modest to sharp increases during the past few years, so a moderate correction would be expected under typical conditions.A word to the wise: Periods of price correction tend to see buyers vacate the market in anticipation of buying at the bottom

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