The future of the ruby market seems to lie with the stones originating from Africa, but will the trade ever hold them in the same high regard as it does the Burmese stones?
Rough diamond sales and polished diamond prices continued their recovery in February, yet caution remains the trade’s watchword as global demand for diamonds still is relatively weak.
The Type IIa, D color stone found last month at the Lulo mine in Angola achieved a per-carat price of $39,580, a record price for a white diamond from the site.
Though it can come in a vivid violet color and is readily available in large pieces, kunzite remains relatively low in demand in the market, keeping it at a more accessible price point.
Shortages following a “reasonably good holiday season” in the United States spurred another increase in polished diamond prices, Rapaport said Tuesday.
The diamond miner and marketer said rough diamond sales totaled $540 million in its first sales cycle of the year, more than double the $248 million recorded at the end of 2015.
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