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Gemfields PLC set for a boost as 'demand for rubies has been underplayed' says analyst

Panmure Gordon's commodities and mining analyst Keiron Hodgson tells Proactive: '' Gemfields is driving demand for precious stones in an industry that continues to develop and if you consider that the coloured stone market is arguably some way behind that of diamond market but is catching up very very quickly''.

''I think the ruby industry could surprise to the upside - the demand for rubies has probably been underplayed for some time, but you obviously need to be mindful of new supply sources, you've got Myanmar and other regions looking to come into the supply chain.''

On the outlook for diamonds Hodgson said: ''From now, Diwali in India, through until the Chinese New Year  and everything in between is arguably the most important period for diamond retail which then in turn drives demand throughout the value chain down to the mining companies at least through to the end of the first quarter of 2017.

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