Growth in diamond prices 'pushing up values'
Personal insurance
16th April 2010
Homeowners should carefully check their insurance policies to ensure their jewellery is properly covered as rough diamond prices have soared.
With double-digit growth for the gems, Diamond Manufacturers has advised people to shop around carefully for items such as engagement rings as costs increase because of rising numbers of buyers and suppliers cutting production during the downturn.
According to the online jeweller, the industry is volatile in terms of supply and demand, which can result in significant price fluctuations such as a rise by between 55 and 60 per cent since March 2009.
"It's only a matter of time before the price of polished diamond will significantly increase. In fact, they have already started doing so," company press officer Adrie van der Luijt warned.
UK insurance policy holders should also check they have sufficient cover in the wake of sharply rising gold and precious metals prices over the past few years, which will have pushed up the values of jewellery and other items.
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