Diamond prices set to soar in next decade becaause of increased demand

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Growing demand for diamonds led by the U.S. —the top retail market for precious gems-based jewellery—, followed by China and India, is expected to keep the global diamond market more than healthy in the next ten years, consultancy Bain said Tuesday.

In its fourth annual report on the industry, the experts warn that growth, however, may be jeopardized by lack of access to financing and the need for increased marketing.

According to the consultancy, the market expanded last year by between 2% and 4% at every point in the value chain, from mining to cutting and polishing, manufacturing and retail.

“Looking ahead to the next decade, the outlook should remain strong, as long as the industry can step up its focus on driving demand and sustaining a positive image for the market,” the analysts say in the study “Diamonds: Timeless Gems in A Changing World.”

Henry Sapiecha

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