India: Trade Focused on Chinese New Year

Jewelry wholesalers cautious due to high gold price and volatile rupee-dollar exchange rate. Diamond trading centered on filling last-minute orders for Chinese New Year. Good demand for 0.30 to 0.60, D-G, I1+ stones. Diamantaires expect upturn in coming weeks as US dealers return for post-holiday trading. Manufacturers maintaining stable polished production below capacity.

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