Diamond prices to touch record highs in coming months?

According to Hochreiter Finance Group, diamond prices are expected to hit "new highs" over the next 12 months, as the divide between supply and demand widens.

"If you are actively involved in the production and sales of diamonds, the future looks extremely bright."
"Global diamond sales reached $72 billion in 2006-an increase of six percent."
"All this is being driven by the US, which account for about 43% of sales, but new trends are appearing."

"In China about 40% of the women are now getting married with diamond rings, and that trend is expected to increase significantly over the coming years."

"India is a rapidly strengthening sector with a growth rate of 26% last year, which will continue."

"Further, with the weakening US dollar, diamond demand tends to pick up in other countries."
"So as demand increases and supply decreases, the market will balance itself by sharp increases in the price of diamonds from the next year through to 2015."

All this according to HFG who also predicts the supply decline in many of the world's major diamond producing countries will continue, with Botswana production expected to lose about $460 million in production; Russia $ 260 million and South Africa $ 160 million between 2005 -2015.