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Rough diamond prices may remain volatile in short term

Rough diamond prices are likely to remain volatile in the short-term due to demand-supply mismatch. Rising consumerism in the rapidly growing two Asian economies — India and China — coupled with speedy return of US consumers have boosted demand of rough diamond for meeting jewellery requirements. In contrast, however, miners that had cut output immediately after global economic meltdown have cautiously started restoring output which may increase supply. According to a report by the rating agency Crisil, prices of polished diamonds have increased by more than 30 per cent over the ...