The IDEX Polished Price Index, published by IDEX Online, fell 1.86% in October – the second biggest drop since April, and marking a decline in polished diamond prices for a seventh consecutive month.
Month-to-month diamond prices fell 2.4% in October, “one of the biggest drops in recent years,” according to the article. Year-to-year polished diamond prices showed slower growth for a seventh consecutive month in October – 5.4% – the lowest figure so far of 2022.
IDEX Online concludes by saying that “none of the other metrics […] provide cause for much optimism in the short term, as weak consumer demand and high interest rates persist.” While polished prices improved somewhat in September, they fell back in October to August’s record low level. The 0.5-carat category is “faring worst” while 4.0-carat stone “are doing best, relatively speaking.”
