Abstract 77 diamonds (77Diamonds) co-founder Kormind told CNBC that from the first quarter of the Chinese market and the Russian market pressures affected the jewelry market in Europe. He said that from a global perspective, although diamonds perform better than others...
Kormind, co-founder of 77 Diamonds, told CNBC that market pressures from the first quarter of the Chinese and Russian markets affected the European jewelry market.
He said that from a global perspective, although diamonds outperformed many other commodity asset classes, performance in the European market remained relatively stable, demand fell, and prices were suppressed.
This is in stark contrast to the steady rise in the diamond market over the past 10 years, he said, with white diamonds returning 50% and more rare ingredients such as colored diamonds reaching 160%. Colored diamonds, including yellow, red, pink and blue diamonds, are rare and are equivalent to famous paintings. There are only about 100 certified red diamonds in the world. In view of its rarity, investors with strong financial resources have increased demand for large colored diamonds, and stocks are being exhausted.
According to him, blue diamonds are also very rare. Because the supply is limited and the number is gradually reduced, so many of the current outflows come from the collection. After all, the amount of mining is insufficient, and the pink diamonds are the same.
Limited supply can't keep up with demand, and he believes that investors with strong financial resources will become more interested in the jewelry market.

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