Diamond Glut Dulls The Gem Business Sparkle ...Middle East

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Diamond Glut Dulls The Gem Business Sparkle
A glut of diamonds, both mined and man-made, could be an early present for holiday season shoppers and a crisis for miners, manufacturers, and jewelers. Mutiple negative factors, including global economic uncertainty and wars in Ukraine and the Middle East, are disrupting the diamond business at precisely the wrong time of the year. Diamond glut cuts prices and profits, (Photo Patrick Landmann/Getty Images) Getty Images A steep fall in prices and a lack of buyers has led to poor sales by De Beers, the diamond industry’s traditional leader, and prompted the launch of a $20 million marketing push to boost sales, led by the return of the company’s award-winning campaign from 1947: “A diamond

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