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But rough diamond sales were up compared to Q4, as dealers in India recovered from the effects of the demonetization policy.
The market saw its 4th consecutive year of growth, benefiting from its favorable pricing compared with gold.
The diamond miner and marketer sold $520 million in rough diamonds in the fourth sales cycle of the year, compared to $636 million in the same period last year.
Meanwhile, prices for yellow and pink diamonds remained relatively unchanged, according to the Fancy Color Research Foundation.
Market sentiment improved in March but the overall trend is more destocking and a shift toward lower price-point merchandise.
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