Marilyn Monroe knew what she was talking about when she sang that diamonds are a girl's best friend. Investors looking for a safe haven and market observers have noticed an increase in the price of precious metals and rocks during the last year. Egle Juozaitiene, the head of sales and marketing of luxurious jewelry company Grenardi Group in Lithuania, told The Baltic Times that diamonds could be the best safe investment at the moment. What exactly distinguishes a "luxury" good from other goods of the same type?A luxury good means an increase in income causes a bigger increase in deman...
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