Diamond prices reach pre-recession level :: Mmegi Online

In a positive development for Botswana which traditionally relies on diamond export revenues, prices of rough diamond have recovered significantly and are now at the pre-recession levels.

In a recent letter sent to its sightholders ahead of the all-important Las Vegas JCK show in June, the Diamond Trading Company says rough diamond prices have impressively recovered to the early 2008 levels while demand has also grown by almost 200 percent in the 2010 first quarter, compared to the same period last year.

The Las Vegas show is the jewellery industry's premiere trade show where the jewellery industry comes together each year. "After an unprecedented year for the diamond industry in which diamond demand and sales were dramatically affected, we are seeing clear signs of recovery and after a slightly better-than-expected Christmas buying period, there have been good levels of restocking reported throughout the first quarter," the letter reads.

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