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April 2014

Diamond Banks Rein in Lending as Gem Speculation Drives Prices

By | Gemdax in the news | No Comments

Banks lending in the $15 billion diamond-financing industry are cutting the amount they’ll offer to clients amid fears that prices are rising too fast.

Antwerp Diamond Bank and ABN Amro Group NV, two of the biggest lenders to the industry, have reduced the amount to 70 percent of rough diamond purchases from 100 percent, demanding that buyers of the stones front up more of their own cash.

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