Like people, every diamond is individual and unique. One way diamonds are different from each other, is the minute traces of crystals that may get trapped during the crystallization phase of a diamonds growth. These minute crystals are called inclusions.

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Though the majority of diamonds appear to be colorless, they are not. There are many shades differences although subtle. Diamonds with no color or very close to no color is considered very rare and valuable.

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The last but not least is Carat Weight. A diamond's weight is the easiest characteristics to measure, and from the beginning it has been used to determine the value of a diamond.

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The diamond markets recovered in 2010 as significant increases in consumer demand from India, China and Far East markets, as well as a relatively healthy U.S. holiday season, supported higher prices. Liberal U.S. monetary policies have encouraged global consumption and stimulated the market for inexpensive diamonds. They have also created currency uncertainty, inflationary expectations and surging gold prices that have encouraged investment demand for diamonds. Overall polished diamond prices and trading volumes have returned to early 2008 pre-recession levels and stabilized during the second half of 2010.

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A rare pink diamond that is regarded as one of the most desirable and beautiful in the world was sold for a record 46.16 million dollars on Tuesday, smashing previous auction records for the sale of any single diamond or jewel, Sotheby's said. Duration: 00:51.

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Indian company has launched what it says is the world's first "cash machine" that dispenses gold and silver coins and diamond-studded jewellery.

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Zimbabwe to resume diamond sales in Marange region Zimbabwe's mines minister says the country could earn billions of dollars a year selling diamonds, after the Kimberley Process watchdog said it could resume sales from sites in the Marange region, where rights violations allegedly took place. Duration: 01:22

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Demand for rough diamonds from China and India is helping boost the price of the precious stone.

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ST. CHARLES, MO (KTVI-FOX2now.com) - Jewelry stores along historic Main Street in St. Charles are being hit by thieves. Hundreds of thousands of dollars of specialty jewelry has been stolen in two break ins-the latest just days ago. Investigators think the break-ins could definitely be related because of the methods of operation: both have basically been smash and grabs.

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British supermodel Naomi Campbell testifies at the war crimes trial of ex-Liberian president Charles Taylor in The Hague.

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