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Message Subject DE BEERS, WORLD'S LARGEST DIAMOND PRODUCER SHUTS DOWN MINES, DUE TO SLIDING WORLD SALES
Poster Handle anonymous
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D flawless VVS diamond 1 carat solitaire sold for $29,000.00 retail by very very late 70s ..then they dropped to around $10,000.00 retail by approx mid 80s and still sat unsold everywhere..dealers of fine diamonds and fine gemstones just store them in vaults toil prosperous times return...some do sell some of thier stock very cheap to generate some cash flow from time to time in hard times..price of gold has caused new diamonds to be impossible to market ..diamonds sales always tank if gold rises .$265.00 an ounce is best gold price to market diamonds. if gold rises to high then diamonds must then depreciate or the consumers buyer market shuts down. that is what has been happening for years now, as high oil stold disposable pocket money from the consumer public.
 
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