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Chanthaburi . 2008-02-10
Gemstone market news
China eats Burma ruby
Last weekend, just before Chinese New Year, was a very good clearance market. A lot of material has been sold for really discounted prices.

Last weekend, just before Chinese New Year, was a very good clearance market. A lot of material has been sold for really discounted prices.
The coming year of the Rat should see strong buying from China for ruby goods.
Already Chinese dealers are in Yangoon attending state auctions to get material. Some buyers are also in our Chanthaburi market hunting for high end goods. Since a few years, we could see their purchasing increasing from low quality goods to the best stones available.
These buyers were looking only for Burmese rubies, leaving Madagascar material for US or European buyers.
Until now there was no increase in price for ruby goods, but if their purchasing goes on, Burma ruby prices will go higher without being affected by the ban from US jewelers for burmese goods.

Source : Roger Pingley
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