Wealth management supported as China's diamond market "red hot"?

Wealth management through diamond investment may prove profitable as it is claimed demand for diamonds in China is becoming "red hot".

As the world's fastest-growing economy, healthy interest in the precious stones could signal gains for those who engage in wealth management through diamonds or relevant investment.

What's On Xiamen reports mainland China and Hong Kong spent a total of $737 million (£463.88 million) buying gems from Antwerp during the first three months of this year.

With traditional wealth management options such as property and investment banking destabilised by the global economic downturn, jewels could become an increasingly important asset.

Indeed, with uncertainty affecting many previous 'safe haven' investments, precious metals have broken previous highs, with gold up ten per cent since the end of the second quarter amid widespread aversion for perceived riskier stocks, Bloomberg reports.

Bullion for immediate delivery was valued at $1,368.40 an ounce by the close of trading last week, following a strong performance that saw it break at least five records in October.  ADNFCR-2318-ID-800121203-ADNFCR