India: Jewelers Reducing Diamond Content

Slow trading over Jain Paryushan festival and HinduGanesh Chaturthi holiday. High gold price and declining currency (INR 72/$1)impacting domestic jewelry demand. Jewelry manufacturers compensating byreducing diamond content. Cutters maintaining low production until October 27Diwali break, with some smaller units already closing. Polished inventorylevels went down in last month, but still higher than previous years.

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