Oct 27, 2015

Global diamond production is expected to peak in 2017, when 164 million carats of diamonds are forecast to be produced. After that, production is expected to go into a long-term decline, unless major new discoveries are made. You would think prices of diamonds would be skyrocketing, however prices have fallen eight percent this year. De Beers, which mines rough diamonds and sells on to firms that ready them for the market, has slashed production this year as sales ebb. Thursday, De Beers said third-quarter diamond-sales volume fell 59% from the previous year and production slid 27% to six million carats. The diamond market isn’t rock solid. And it likely won’t harden up any time soon, according to the Wall Street Journal. Steve and Sinclair review the story. In the Q & A segment, Steve reviews how to add a long term care component to your retirement portfolio at very low cost, and without annual premiums.