Russia to continue buying diamonds through state fund in 2025
The Russian budget for 2025-2027 has set aside $1.55 billion for the purchase of precious metals and gems.
The 7% to 15% rough diamond prices increase at last week’s BHP Billiton auction has made Indian diamond dealers reluctant to sell polished at current prices. The Indian market also widely anticipates a further price rise at the next auction, leading wholesalers to dig their heels in even more.
