DTC to sum up price increases for 2008

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DTC to sum up price increases for 2008

By Michelle Graff

July 31, 2008

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London—For the first time in its history, the Diamond Trading Co. (DTC) plans to release cumulative price-increase data for the year, National Jeweler has learned.

DTC spokeswoman Louise Prior said the DTC most likely would make this announcement on Aug. 15, just before that month's sight, which is slated for the week of Aug. 18.

The announcement will cover the cumulative changes in rough prices to date for 2008, which will give a "directional snapshot for the year," Prior said.

The DTC chose to make this announcement because clients—who have seen the prices of rough rise steadily, including as much as a 15 percent increase in the cost of large goods at the July 7-11 sight—requested it.

"If our clients still see value in this announcement, we will continue," she said.

Prior said the DTC takes a "long-term and dynamic" view on pricing, with the decision on whether or not to raise prices based on prevailing market conditions.

Right now, the DTC's view is that there continues to be strong demand for diamonds, especially larger stones and, thereby, prices likely will continue to rise.

"I anticipate we will probably see some further price changes this year," Prior said.

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