(IDEX Online) - Let’s get straight to the bottom line: at any given moment, the Gemological Institute of America (GIA) and other grading labs will have some $1.5 billion worth of diamonds in their possession that are not readily available for business. If annual polished consumption is around $22 billion (at polished wholesale prices), this means that, at any given time, some 7-8 percent of annual sales and the equivalent of some 20 workingdays of the global polished-diamond working stocks are withdrawn from the business cycle.
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