It's Time To Invest In Diamonds
For investors looking for an alternative safe haven to gold, diamonds could be an interesting choice. Demand for these gemstones continues to grow and, like gold, diamonds have been considered a store of value for centuries. Overall, diamond consortium De Beers expects growth in the global demand for rough diamonds to reach a new record this year, based on robust demand from China, India and other Asian emerging markets. As populations in the Pacific Rim have moved up to middle class status and new wealth, the popularity of luxury goods has surged. This includes a new love affair for diamonds. De Beers expects China, India and the Middle East to account for 40% of global diamond demand by 2015. The firm also expects that strong performance in the key U.S. market will contribute to that growth.
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