Sight Prices Up Across the Board (Updated)July 19, 11
Diamond traders are speaking of a DTC shock effect, a combination of price increases and a very large Sight, speculating that the leading diamond supplier is trying to stifle the wide speculation purchases and high premiums.
The price of the nicer goods is up 5%-10%, Commercial boxes were hiked by some 10%-13% and the popular smaller goods climbed 3%-15.5%.
It is still early to estimate the size of the Sight, however based on the first two days, insiders place it at $850 - $900 million, one of the largest Sights in recent memory.
Due to the size of the Sight, the sharp price changes and a cautious mood in Mumbai, trading in the boxes was limited and premiums are expected to decrease.
(Last updated July 19, 2011 10:09 am)