Polished Trading Advances on Steady Far East, U.S. Demand

  1. Rough premiums rise as market sentiment improves. Polished trading advancing on steady Far East and U.S. demand. India's polished trade slumps in Feb. with exports -54% to $1.4B, imports -80% to $476M, rough imports +21% to $1.3B. Indian domestic market cautious as jewelers strike against tax hike on precious metals imports. U.S. retail demand stable: Tiffany & Co.'s 4Q revenue +8% to $1.2B, net earnings -2% to $178M. Signet Jewelers 4Q revenue +7% to $1.4B, net income +49% to $157M. Gem Diamonds 2011 revenue +49% to $396M, net profit +235% to $68M. Blue Nile appoints Harvey Kanter as president and CEO. EU extends sanctions on Zimbabwe’s Marange diamonds to February 2013

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