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Page last updated at 09:24 GMT, Tuesday, 20 March 2012

China 'fuelling diamond price hike'


Gold has always done well in times of crisis and the recent one has been no exception but what about diamonds?

Gem Diamonds is a company which supplies Tiffany, and whose net profits have more than tripled to $68m.

The company's Clifford Elphick told the Today programme's Simon Jack that the demand coming out of China is driving the price rise.

When asked about investing in diamonds, he said that "there are very few diamond funds" and they are not easily accessible for the man on the street because you need quite put in quite a lot of money in.

In terms of regulating so-called "blood diamonds" he said the Kimberly Process has been "very successful" despite many people not being happy with the global agreement.

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