Extended Diwali Vacation could Push up Polished Prices

By John Jeffay / November 08, 2021 / www.idexonline.com / Article Link

(IDEX Online) - Manufacturers in Surat are hoping to kickstart the price of polished diamond prices by extending the Diwali vacation.The city's 6,000 cutting and polishing units will remain closed for three weeks, rather than the usual seven or 10 days."Even though rough diamond prices were going up due to supply constraint, polished prices were not witnessing an upward trajectory and the processors' margin was not moving up," said Vipul Shah, vice chairman of the Gem & Jewellery Export Promotion Council (GJEPC) told The Economic Times."The long vacation will bring down the supply of polished prices and hopefully polished prices will go up."India's gross exports of polished diamonds in April to September were $12.3bn, up 123 per cent on the same period last year.

Recent News

Uranium volatility after Russia's US export restrictions

November 25, 2024 / www.canadianminingreport.com

Gold stocks rebound on metal bounce and equity rise

November 25, 2024 / www.canadianminingreport.com

Crypto market size continues to catch up with gold

November 18, 2024 / www.canadianminingreport.com

Crypto stealing some of gold's thunder

November 18, 2024 / www.canadianminingreport.com

Gold stocks drop on metal price decline

November 11, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok