Dubai Rough Tender Prices are Highest Since Pandemic
February 01, 21
(IDEX Online) - A rough tender in Dubai raised almost $60m as TAGS reported "extraordinarily strong demand".
It says all 87,000 carats on offer were sold during the week-long event at at the Dubai Diamond Exchange.
"We achieved by far the highest prices we have seen since before the COVID-19 crisis," said a spokesman for Trans Atlantic Gem Sales DMCC (TAGS).
Around 150 companies, mostly from India, took appointments and 60 made purchases. Some had to cancel due to positive COVID-19 results on arrival in UAE and the sale was extended for two days.
Regular from many other centers were absent because of ongoing travel restrictions and quarantine regulations.
At last November's sale TAGS sold almost all the 45,000 carats on offer for a total of $35m to $40m.