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Diamonds lose their sparkle as sales at De Beers plunge

Aug 29, 2019 - The Daily Telegraph (London)

A GLOBAL slowdown in the diamond market is catching up with industry leader De Beers, after it reported a 44pc tumble in its latest sales round.

De Beers sells diamonds to accredited buyers 10 times a year at events called "sights". Sales of diamonds fell to $280m (£228m) in the company's seventh sight of the year, down from $503m the year before and marginally higher than the $250m for the previous sight this year.

Diamond pricing is notoriously opaque with much of the market contr...