Demand for Diamonds Down in Vietnam
The volume of diamonds sold this year is down by one-third compared to a year ago although it is now the high time of wedding season, the Tuoi Tre newspaper reported, citing Saigon Jewelry Holding Company (SJC).
At the Phu Nhuan Jewelry Joint Stock Company, the number of sold diamond rings has seen a 20 per cent on-year decline.
Demand fall is mostly attributed to global financial crunch with not much impact on Vietnamese economy but enough to force local consumers to tighten their spending for luxury commodities.
However, diamond prices have so far this year witnessed slight increase. The situation is different from gold market where gold prices have strongly fluctuated since the beginning of this year due to speculation. (Youth)
Vietnamese
