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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.
After a strong performance in 2016, the price of the metal has continued to rise.
Jewelers haven’t been replenishing their stock like expected, and diamond prices have softened slightly.
Ruby production also was down, though Gemfields CEO Ian Harebottle noted a “buoyant” start to the year for the luxury market.
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