Mmegi

An uncertain second half beckons for diamonds

Buzzing trade: The Las Vegas JCK Show is an important barometer of trends such as demand in the diamond industry PIC: MBONGENI MGUNI
Buzzing trade: The Las Vegas JCK Show is an important barometer of trends such as demand in the diamond industry PIC: MBONGENI MGUNI

The country’s single most important commodity – diamonds – goes into the second half of the year mired in uncertainty. US interest rates and a spirited holiday season campaign will underpin recovery for the stones. Staff Writer, MBONGENI MGUNI reports

As bad as the diamond numbers are, some analysts on the retail end of the spectrum are seeing some positive signs.

And the retail end is where the light is required. The slump that caused a 5.3% contraction in the economy this year, largely traces back to oversupply of diamonds in the retail market from early 2023.

Editor's Comment
Makgekgenene played her part

“Ignore the noise, focus on your work”- AnonymousAs the DG of such a controversy-ridden institution, you really played your part in the fight against corruption and economic crime. Your stay at the helm of the DCEC was quickly paying dividends under your stewardship. During your tenure, there was a lot of action as those caught on the wrong side of the law were brought to court regardless of their economic or political status. We have learnt...

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