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Diamond Prices Decline Amid India Liquidity Crisis
RAPI for 1 ct. Diamonds -5% in 2016
Jan 3, 2017 2:37 AM
By Rapaport
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RAPAPORT... PRESS
RELEASE, January 3, 2017, New York… Polished diamond prices softened in
December as Indian liquidity dried up due to the government’s demonetization
policy eliminating 500 and 1,000 rupee notes. Trading slowed with dealers
taking vacation during the holiday period.
The RapNet
Diamond Index (RAPI™) for 1-carat, RapSpec A3+ diamonds fell 1.3% in
December. RAPI for 0.30-carat diamonds edged up 0.2%, while RAPI for 0.50-carat
stones fell 2.2%. RAPI for 3-carat diamonds slid 1%.
RAPI for
1-carat diamonds declined 3% in the fourth quarter and 5% for the full year.
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Tags:
China, Chinese New Year, consumer confidence, Demonetization, diamonds, holiday sales, India, Jewelry, Martin Rapaport, Rapaport, RAPI, RapNet, Rupee
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