On Thursday, Diamond prices closed flat at Rs. 3,488.35 cent from the previous close after the US Federal Reserve decided to keep policy rates unchanged.<\/p>\n
On the ICEX, prices of\u00a0Diamond futures 1 Carat for July expiry, opened at Rs. 3, 480.2 and touched a high of Rs.3, 493.1 cent, low of Rs.3, 478.2 cent before settling at Rs. 3,488.35 cent.<\/p>\n
US Federal Reserve was expected to cut interest rates amid concerns over global economic slowdown. However, the Fed has indicated for rate cut in July.<\/p>\n
Meanwhile, geo-political tension, particularly, US-China trade war, has kept diamond traders on edge with fewer foreign buyers in the market.<\/p>\n
However, demand for top quality diamonds are expected to pick up in certain pockets.<\/p>\n
Outlook: <\/strong><\/p>\n \u00a0<\/strong>Status quo on interest rates and resumption of trade dialogue between United States and China ahead of G-20 summit next week, is expected to support diamond prices.<\/p>\n Kedia Advisory recommends selling diamonds 1 Carat- at Rs. 3,485, stop loss at 3,493, and book profits at 3,477-3470 levels.<\/p>\n \n","protected":false},"excerpt":{"rendered":" On Thursday, Diamond prices closed flat at Rs. 3,488.35 cent from the previous close after the US Federal Reserve decided to keep policy rates unchanged. On the ICEX, prices of\u00a0Diamond futures 1 Carat for July expiry, opened at Rs. 3, 480.2 and touched a high of Rs.3, 493.1 cent, low of Rs.3, 478.2 cent before […]<\/p>\n","protected":false},"author":1,"featured_media":3415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[4048,4038,3083],"class_list":["post-5578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-and-politics","tag-diamond-trading","tag-kedia-advisory","tag-us-china-trade-war"],"aioseo_notices":[],"yoast_head":"\n