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Dealer: Uncut Tanzanite gemstone hits bottom price |
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17:02, August 25, 2008 |
The local price of uncut Tanzanite gemstone has plummeted by almost 50 percent to its lowest price in history.
The per-gram uncut price has tumbled from 350 U.S. dollars in June this year to 180 dollars this month.
"This is the lowest price recorded in the history of Tanzanite business," Monday's edition of The Guardian newspaper quoted gemstone broker Adam Leiyani as saying.
Some local analysts have attributed the nose-dive of local Tanzanite price to the current economic situation in the United States which is the No.1 importer of the gemstone found only in Tanzania.
The United States accounts for about 70 percent of the local sales of Tanzanite while Asia (mainly Thailand and India) accounts for 15 percent, followed by Europe with 5 percent.
Source:Xinhua
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