This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Diamond Market Update (January 31, 2013)

Demand for polished diamonds has been steady throughout January. In the US, post-holiday sales were positive, and with Chinese New Year approaching, demand has also been good in that region. There has also been a boost in demand in India as the wedding season approaches.

The marketplace remains in its long-running price-sensitive mode, with buyers continuing to show a strong preference for cheaper goods. In the US, fancy princess and cushion cuts are largely in order. In Asia, pears, oval and princess cuts have seen strong sales.

De Beers has continued to restrict supply, but that has not created any major issues yet, according to a Rapaport report. The rough market was subdued earlier in the month, but demand has picked up in more recent weeks. It appears that prices are very much in focus — 2013 has started with market participants once again citing concerns about tight margins.

Firestone Diamonds (LSE: FDI) responded to reports of a police raid at its Liqhobong mine in Lesotho. In its statement, the company said that on January 16, police removed computer equipment from the mine site without a search warrant or court order. This incident has not disrupted or impacted operations, Firestone said. The company claimed in a press release that it is unaware of any wrongdoing on its part and is engaged in discussions with the Ministry of Police and Minister of Mines. Findings from these inquiries have not yet been reported.

Diamond Market Update (January 31, 2013) from Diamond Investing News

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs